A Graph Designed to Quickly Illustrate to the Reader Whether

question 63

Multiple Choice

A graph designed to quickly illustrate to the reader whether a set of data is increasing, decreasing, or fluctuating is a:

• A) line graph
• B) circle graph
• C) bar graph
• D) range graph

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Definitions:

Consumer Surplus

The difference between the total amount that consumers are willing to pay and the total amount that they actually pay.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of the good that consumers are willing and able to purchase at various prices.

Consumer Surplus

The gap in finances between the consumers' ability and willingness to pay versus the real payment for a good or service.

Graphing Calculator

An electronic device capable of plotting graphs, solving simultaneous equations, and performing other tasks with variables.