Economics Multiple Choice Question – 14 April 2023

What is meant by ‘ceteris paribus’ in economic analysis?

Select ONE answer:

1. A normative approach is being adopted.
2. The effect of a change of one variable is being considered in isolation.
3. One good has to be sacrificed to obtain more of another.
4. One factor of production is fixed.

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 2

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

This work is licensed under a Creative Commons Attribution 4.0 International License.