Graphs Flashcards
What is the slope?
The slope is the ratio of the change in the variable on the vertical axis and the change on the horizontal access.
What does movement along the curve indicate?
A change in on of the variables shown on either of the coordinate axis of the graph.
What does a shift in the curve mean?
A change in a variable not shown on one of the coordinate axis of the graph.
What is a positive relationship?
A positive relationship means that both variables change in the same direction. As one increases or decreases, so does the other.
What is an inverse relationship?
A negative association between 2 variables. When one variable increases or decreases, the other decreases or increases.
Which axis is Price located on?
Y axis
Which axis is Quantity located on?
X axis
