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Relationships between Variables definitions

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  • Curve
    A continuous line connecting plotted points on a graph, representing a relationship between variables such as price and quantity.
  • Graph
    A visual tool displaying relationships between variables, often using axes to show changes in price and quantity.
  • Intersection
    A point where two curves or lines meet on a graph, indicating a specific combination of variables like price and quantity.
  • Shift
    A movement of a curve or line on a graph, usually horizontally, to represent changes in underlying conditions.
  • Leftmost Point
    The point furthest to the left on a graph, often used as a starting reference for drawing or shifting curves.
  • Rightmost Point
    The point furthest to the right on a graph, commonly used as an endpoint when connecting or shifting curves.
  • Parallel Line
    A line drawn alongside another, maintaining equal distance, used to visually represent a shifted curve.
  • Price
    A variable shown on a graph's axis, representing the monetary value associated with a good or service.
  • Quantity
    A variable depicted on a graph's axis, indicating the amount of a good or service available or demanded.
  • Visual Shift
    A method of moving curves on a graph without calculations, relying on observation and drawing techniques.
  • Mathematical Shift
    A process of moving curves on a graph using numerical calculations to determine new positions.
  • Assessment
    An evaluation of changes in variables, such as price and quantity, after a curve has been shifted on a graph.
  • Color Coding
    A technique using different colors to distinguish between original and shifted curves for clarity.
  • Demand
    A concept often represented by a curve on a graph, showing the relationship between price and quantity desired.
  • Supply
    A concept depicted by a curve on a graph, illustrating the relationship between price and quantity offered.