Graphing

A graph is worth 1,000 words.
A graph is worth 1,000 words.

Economics is by nature a quantitative science. In many cases we solve problems by finding a numerical answer. Economists determine the unemployment rate, rate of inflation, the growth of the economy, prices, costs, and much more. However, there are also times when it is easier to illustrate a concept using a graph. Understanding graphs requires you to visualize relationships between two economic variables.

Real World Examples

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Why are economics graphs backwards (i.e, price shou...

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