Flashcards in ECON topic 2- EXAM#1 Deck (12):
what type of chart best shows income distribution?
what type of chart best shows income per person?
what type of graph shows how a single variable changes over time?
what type of graph is constructed by drawing two perpendicular lines (vertical and horizontal)
a Cartesian coordinate system
what graph best shows a direct relationship correlation? (cause and effect)
the coordinate system
a continuous string of points, or sets of values on the Cartesian plane
the cause and effect relationship is what
positive slope (upward sloping line)
both x and y increase
negative slope (downward sloping line)
when x increases y decreases
when y increases x decreases
what builds the demand curve