What is an inverse relationship
Briefly explain the use of graphs as a way to present economic relationships. What is an inverse relationship?
Expert
Graphs can be used to illustrate the relationship between two sets of data. When 2 variables change in opposite directions it is said to be an inverse relationship. The slope of line is decreasing. When 2 variables transform in the same direction it is said to be direct relationship. The slope of line is increasing. Statements illustrate direct relationships. Statement illustrates an inverse relationship. It assumes that everything remains equal in inverse relationship.
Newspaper item: “Due to lower grain prices, consumers can expect retail prices of choice beef to begin dropping slightly this spring with pork becoming cheaper after midsummer,” the Agriculture Department predicted. “This reflects increasing supply,” the department said. Does the statement use th
Use the circular flow model to confirm this assertion for an expansion of preschool programs for disadvantaged children?
Illustrate the 3rd the government redistributes income?
Explain the markets and prices of the Market System?
What are the criteria of issuing stocks or bonds?
Illustrates the inverse relationship between price and quantity?
Give brief introduction of the term capital structure? And also write down its principles?
For the question below, utilize the given information. The market for gizmos is competitive, with an increasing sloping supply curve and a downward sloping demand curve. With no govt. intervention, the equilibrium price is $25 and the equilibrium quantity is 10,000 gi
I have a problem in economics on Comparative advantage in production. Please help me in the following question. The oranges are grown in Florida and potatoes are grown in Maine mainly since: (i) orange-grower’s in Maine have not lobbied effectiv
18,76,764
1935398 Asked
3,689
Active Tutors
1426255
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!