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Ceteris paribus. From Wikipedia, the free encyclopedia. Ceteris paribus or caeteris paribus is a Latin phrase meaning with other things the same or all or other things being equal or held constant or  all other things being equal  or  all else being equal .
This feature is not available right now. Please try again later. This is a lesson that focuses on a common principle in economics and that is ceteris paribus. Basically, Ceteris Paribus (Latin) is a phrase that means, we will keep everything else the same except the variable we are concerned with. To illustrate the example of ceteris paribus in action I use the example of the price of ice cream in relation to the quantity of ice cream sold. In this example we would want to hold all other variables equal, especially the ones that could potentially affect our data.