Examlex
The Uniform Partnership Act is law in every state except Louisiana.
Behavioral Assumption
An assumption that describes the expected behavior of economic decision makers, what motivates them.
Ceteris Paribus Assumption
A Latin phrase meaning "all other things being equal", used in economics to isolate the effect of one variable change by holding other relevant factors constant.
Other-Things-Constant Assumption
An assumption in economics that all other variables remain unchanged or constant except those under immediate consideration.
Rational
A decision-making process that is based on making choices that result in the optimal level of benefit or utility for an individual.
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