Ceteris Paribus Means

question 146

Multiple Choice

Ceteris paribus means

• A) everything changes.
• B) everything is held constant.
• C) other things being equal.
• D) nothing changes.

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Definitions:

Tariff or Quota

A government-imposed restriction on the quantity of goods that can be imported (quota) or a tax levied on imported goods (tariff).

Domestic Consumers

People or family units in a nation who buy products and services for their own consumption.

Domestic Producers

Companies or individuals within a country that produce goods or services for the local market.

Tariff on Imports

A tax imposed by a government on goods and services imported from other countries, aiming to protect domestic industries.