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In Economics, Graphs Serve Two Purposes: They Offer a Way

question 155

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In economics, graphs serve two purposes: they offer a way to visually express ideas, and they provide a way of finding and interpreting patterns when analyzing economic data.


Definitions:

Bank Loan

A bank loan is a sum of money borrowed from a bank that must be repaid with interest over a predetermined period.

Receivables Balance

The complete amount of financial liabilities customers hold towards a company for supplied goods or services awaiting payment.

Accounts Receivable Period

The amount of time it takes for a company to collect payment from its customers after a sale has been made.

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