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.
At the maximum point of the total product curve of a firm, marginal revenue is ...
Census figure of most countries in West Africa is inaccurate because of ...
One economic implication of over-population is that it ...
Which of the following measures can be used to control inflation? ...
The backward bending supply curve of labour indicates? ...
Money becomes a very poor store of value in a period of ______ ...
Abstention from consumption which enables capital to be produced is called ...
In a perfect competition, the market price is determined by_______ ...
All of the following is the features of optimum population except ...