Day: May 27, 2022

What is meant by the ceteris paribus assumption?

Select ONE answer:

1. an assumption that is not supported by the facts
2. an assumption that consumers act rationally
3. an assumption that two factors are in equilibrium
4. an assumption that other factors are held constant

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Economics KS4 and KS5 classes.

The answer is 4

1. Not correct
2. Not correct
3. Not correct
4. Correct

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