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Graphs of Two Variables quiz #1

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  • Which graph represents a proportional relationship between two variables?
    A graph represents a proportional relationship if it shows a straight line passing through the origin (0,0), indicating that as one variable increases, the other increases at a constant rate. In economic graphs, this means the ratio between price and quantity remains constant across all points.
  • What are the names of the two axes on a standard economic graph?
    The horizontal axis is called the x-axis, and the vertical axis is called the y-axis.
  • Which variable is typically placed on the x-axis in economic graphs?
    Quantity is usually placed on the x-axis in economic graphs.
  • How do you determine where to plot a point for a given price and quantity on a two-variable graph?
    Find the value for price on the y-axis and the value for quantity on the x-axis, then mark the point where these two values intersect.
  • What is a demand schedule in the context of graphing two variables?
    A demand schedule is a table listing different prices and the corresponding quantities demanded.
  • Why is it important to label points (such as A, B, C, D, E) when plotting on a graph?
    Labeling points helps track their positions and makes it easier to reference specific data pairs on the graph.
  • What convention is followed for labeling axes in economics graphs?
    In economics, the y-axis is labeled as price and the x-axis as quantity.
  • What should you be careful about when plotting points from a demand schedule?
    You should ensure that each value is placed on the correct axis to avoid mixing up price and quantity.
  • How can using different colors when plotting points on a graph be helpful?
    Using different colors can help distinguish between points and improve clarity when reading the graph.
  • What is the first step before plotting points on a two-variable graph?
    The first step is to label the axes and assign the appropriate variables to each axis.