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ppt-intro to microeconomics

# ppt-intro to microeconomics - Chapter 1 Appendix Using...

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Chapter 1 Appendix: Using Graphs Objectives: Make and interpret a time-series graph, a cross-section graph, and a scatter diagram Distinguish between linear and nonlinear relationships and between relationships that have a maximum and a minimum Define and calculate the slope of a line Graph relationships between more than two variables

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Graphing Data Time-Series Graphs A time-series graph measures time (for example, months or years) along the x -axis and the variable or variables in which we are interested along the y -axis.
Graphing Data

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Graphing Data Cross-Section Graphs A cross-section graph shows the values of a variable for different groups in a population at a point in time.
Graphing Data

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Graphing Data Scatter Diagrams A scatter diagram plots the value of one variable on the x -axis and the value of another variable on the y - axis. A scatter diagram can make clear the relationship between two variables.
Graphing Data

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Graphs Used in Economic Models Graphs are used in economic models to show the relationship between variables. The patterns to look for in graphs are the four cases in
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ppt-intro to microeconomics - Chapter 1 Appendix Using...

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