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Question
What does the term "ceteris paribus" mean in relation to the Law of Demand?
Options
All factors change together
Only price changes; other factors remain constant
Income and tastes change
Price does not affect demand
MCQ
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Solution
Only price changes; other factors remain constant
Explanation:
"Ceteris paribus" means that all other factors remain constant except the price, allowing the Law of Demand to be observed directly.
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