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Why do you think economists focus on price while holding constant other factors that might have an impact on the behavior of buyers and sellers?
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Why do economist used ceteris paribus?
Economists used ceteris paribus to separate cause and effect by holding all other things constant.
Why is investment so important to GDP?
investment is part of output, so if we have a low investment, we will have a lower GDP holding all other factors constant.
What factors are holding back Romania's economy?
the factors that are holding back Romania's economy communist policies.
What is the name of the assumption that means holding all things constant?
ceteris paribus
What does ceteris paribus means?
Ceteris paribus means all else equal. This is especially popular in the study of economics. It is used a lot in economic because it studies the complex relationships of human behavior and the market. The concept of ceteris paribus is used look at one change while holding everything else constant to gain an understanding of what changes in a complex web of relationships. An example in macroeconomics is what would happen if the interest rate increased while all other factors remained constant like: economic output, unemployment, input price, and whole wide plethora of other variables. It is useful to understand this in order to see in future situations how these variables can be manipulated in order to avoid economic disaster like rampant inflation or depression so that the welfare of the people is not dramatically affected.
Why do economist used ceteris paribus?
Economists used ceteris paribus to separate cause and effect by holding all other things constant.
Behavior of a consumer if the prices of a commodity change holding his money income constant under the ordinalist approach?
Depend on the change; higher prices or lower ones.
Why is investment so important to GDP?
investment is part of output, so if we have a low investment, we will have a lower GDP holding all other factors constant.
What factors are holding back Romania's economy?
the factors that are holding back Romania's economy communist policies.
How is the density affected by increasing the mass whiule holding the volume constant?
Holding volume constant while increasing mass will increase density. density = mass / volume
Gause's exclusion principle refers to?
It just is that two species competing for the same resource can not exist if all other ecological factors are held constant. Held constant is important here. A time varience in species feeding, such as diurnal vs nocturnal would not be holding ecological conditions constant. so, if held constant in ecological conditions, one species woul be excluded from the resource.
What is the name of the assumption that means holding all things constant?
ceteris paribus
What happens to density when increasing mass and holding volume constant?
The density will increase.
Can you transition boiled water directly to vapor under a very low temperature?
Sure, reduce the pressure.Boiling can be produced either by:raising temperature while holding constant pressurelowering pressure while holding constant temperature
How is the density affected by increasing the mass while holding the volume constant?
it doesnt change
What are the Laws of economics?
The laws of economics are principles that govern economic behavior, such as the law of demand and supply, the law of diminishing returns, and the law of comparative advantage. These laws help explain how individuals and businesses make choices in the face of scarcity and how markets function to allocate resources efficiently.
What is the factors are holding back Romania's economy?
Because of conflict
