Tuesday, 28 February 2012

Ceteris paribus

Okay, so your looking at the title and thinking thats not a 'word' thats a phrase, well i get that it might be spelt as two words seperated by a space but when you say this you can't just say ceteris or just paribus you have to say CETERIS PARIBUSCETERIS PARIBUS means to hold everything constant,everything being held the same, etc. I learnt this one in Economics the other day whilst learning about price vs quantity graphs or something. The way in which my teacher had said it was "...the demand for a good or service at a particualr time, place, CETERIS PARIBUS". This word/phrase is a latin word and is said exactly how it is spelt.

                                                                                                      Maddy x

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