Slope of a straight line is the ratio
Explain the slope of a straight line is the ratio of the vertical change to horizontal change between any two points on the line?
Expert
Straight line slope is the ratio of the vertical change to horizontal change between any two points on the line.
1. The slope of a line will be positive if both variables change in the same direction (a positive or direct relationship).
2. The slope of a line will be negative if the variables change in the opposite direction (an inverse or negative relationship).
3. The numerical value of the slope will depend on the way the relevant variables are measured.
4. Economic analysis is often concerned with marginal changes, the relative change in one variable with respect to another; it is this rate of change that is measured by the slope.
5. Lines that are parallel with either the horizontal or vertical axis indicate that the two variables are not related, i.e. change in one variable has no effect on the value of the other.
a. A vertical line has an infinite slope.
b. A horizontal line has a zero slope.
surpluses drives price down,shortages drive up
Explain the statement: “The other things equal assumption helps isolate key economic relationships.”?
Use the economic perspective to explain the behavior of the workers? Why do they work so diligently?
I have a problem in economics on Circular flow model of the private sector. Please help me in the following question. The simple circular flow model of private sector doesn’t comprise: (i) Firms. (ii) Product markets. (iii) Government agencies.
Double coincidence of wants: This means that one person's wishing to buy and sell should coincide with another person’s wish to buy and sell.
Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good. Answer:
Illustrate a summary of what can cause an increase in demand?
Explain the statement: “Generalization and abstraction are nearly synonymous.”?
Why Public or social goods not be produced through the market?
Write down the importance of Earnings per share?
18,76,764
1954945 Asked
3,689
Active Tutors
1423317
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!