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6 Cards in this Set

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  • Back
Vertical Intercept
The point at which a line meets the vertical axis of a graph.
Slope of a Straight Line
The ratio of the vertical chg (the rise or fall) to the horizontal chg (the run) between any two points on a line.
Inverse Relationship
The relationship between two variables that chg in opposite directions, i.e., product price & quantity demanded.
Direct Relationship
The relationship between two variables that chg in the same direction, i.e., product price & quantity supplied.
Dependent Variable
A variable that changes as a consequence of a chg in some other (independent) variable; the "effect" or outcome.
Independent Variable
The variable causing a chg in some other (dependent) variable, i.e., income vs. consumption.