Ceteris Paribus: Definition, Pros, Cons & Examples
Ceteris Paribus is a phrase used in economics that makes economic analysis simpler.
The branch of economics that looks at the economy as a whole. It looks at factors which affect the wider economy rather than individuals. Examples include inflation, trade, unemployment, and economic growth.
Ceteris Paribus is a phrase used in economics that makes economic analysis simpler.
A mixed economy is an economic system that combines elements of a capitalist, market-based system, with a socialist, command economy system. It mixes elements such as private property rights, free trade, and privatization, with socialist elements such as regulation, the welfare state, and re-distribution.
Deflation can be caused from a number of factors. However, it should be noted that these factors alone may not necessarily cause deflation.
Neoliberalism refers to the resurgence of free market ideas that characterized classical liberalism in the 19th century.
Capital flight occurs when investors or businesses remove their money from a country.
Absolute poverty is where an individual is unable to meet their immediate needs.
Gross National Product (GNP) refers to the total value of goods and services where the means of production is owned by domestic residents.
Purchasing Power Parity is a measurement that economists use to compare the spending power between two or more nations.
Expansionary fiscal policy refers to a policy that seeks to grow the economy through fiscal stimulus.