Line Graphs Are Primarily Used When

question 2

Multiple Choice

Line graphs are primarily used when

• A)the data are amenable to being presented in straight lines
• B)comparisons are not needed because of the difficulty of interpreting multiple lines
• C)there are two variables to show the relationship between them
• D)a and c above

---

Definitions:

Market Decline Curve

Graphical representation that shows the decrease in demand or value of a market or product over time.

Equilibrium Points

The state in a market where supply equals demand, and there is no incentive for price or quantity to change.

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded, leading to market equilibrium.

Supply and Demand

The basic economic principle where the quantity of goods supplied equals the quantity of goods demanded at a specific price point.