The sign of the slope of a graph in economic analysis is ...
The sign of the slope of a graph in economic analysis is important because it
Shows whether a good is normal or inferior
Shows the relationship between variables
Reveals the magnitude of the change between variables
Helps to determine the unit of measurement of variables
Correct answer is C
The concept of slope is important in economics because it is used to measure the rate at which changes are taking place. It shows how things change and about how one item changes in response to a change in another item.
Guided deregulation as currently practised in Nigeria implies that ...
Economic freedom is a basic feature of ______ ...
One of the factors determining price elasticity of demand for a commodity is the ...
The best channel of distribution of baked bread is through ...
One of the factors affecting change in demand for a commodity is the _______? ...
The last link in the channel of distribution is____________ ...
If in this demand-supply diagram, the quantity supplied is OQ, then ...