The Horizontal Axis in a Graph

question 65

Multiple Choice

The horizontal axis in a graph

• A)measures the quality of a variable.
• B)measures time in a scatter diagram.
• C)is named the y- axis.
• D)is named the x- axis.

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Definitions:

Supply Curve

A graphical representation of the relationship between the price of a good and the quantity supplied by producers.

Value

The importance or worth that is attached to something by individuals or society, often reflected in what people are willing to exchange or pay for it.

Producer Surplus Gain

The difference between what producers are willing to accept for a good versus what they actually receive, often resulting from higher market prices.

Consumer Surplus Loss

The reduction in consumer surplus due to changes in market conditions such as price increases or decreases in available goods.