Chapter 1 Appendix Key Terms

Question 1

Variable

Answer 1

something measured by a number; used to analyze what happens to other things when the size of that number changes

Question 2

Origin (of a graph)

Answer 2

the point in the lower-left corner of a graph where the axes meet; both variables are equal to zero at this point

Question 3

Slope of a straight (or curved) line

Answer 3

the ratio of the vertical change to the corresponding horizontal change as we move to the right along the line between two points on that line, or, as it is often said, the ratio of the “rise” over the “run”

Question 4

Tangent to a curve

Answer 4

a straight line that touches, but does not cut, a curve; the slope of that curved line can be measured at that point

Question 5

Y-intercept

Answer 5

the point on a line or curve at which it touches the vertical axis

Question 6

Ray through the origin, or ray

Answer 6

a line whose Y-intercept is zero

Question 7

45° line

Answer 7

rays through the origin with a slope of 1; marks off points where the variables measured on each axis have equal values

Question 8

Production indifference map

Answer 8

a graph whose axes show the quantities of two inputs that are used to produce some output.; a curve in the graph corresponds to some given quantity of that output, and the different points on that curve show the different quantities of the two inputs that are just enough to produce the given output