Eli5: What does ceteris paribus means?

Question

I cannot, for the love of god, read “other things constant” and understand what it actually means.

In: 8

Answer 1

Think “all other things remain equal.”

As an example: supply, demand and price are very related but there are a lot of other factors that affect both. So in order to make a simple to understand point about how they are related, you could say “rising prices lead to less demand, *ceteris parabus*.” That means the example is true as long as no other factors change.