Ceteris paribus implies that only price and quantity will change assuming all the other factors to be constant. Ceteris paribus, which roughly translates to "all other things being equal," is a Latin expression.
When all other variables are held constant, it serves as a concise indication in economics of the impact one economic variable has on another. One can never rely on ceteris paribus- "all other things being equal" in reality.
To describe relative market trends and to create and evaluate economic models, many economists rely on ceteris paribus. Ceteris paribus presents the issue of isolating what is causing change by holding all other variables constant.
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