Class Notes (839,118)
Canada (511,196)
York University (35,583)
Economics (1,721)
ECON 1000 (466)

economics.docx chapter 1

2 Pages

Course Code
ECON 1000
Zbigniew Stachniak

This preview shows 80% of the first page. Sign up to view the full 2 pages of the document.
A scatter diagram plots the value of one variable against the value of another variable for a number of different values of each variable. It reveals whether a relationship exists between the two variables. The patterns to look for in graphs are the four cases in which Variables move in the same direction – positive relationship/direct relationship. A relationship shown by a straight line is called a linear relationship. Variables move in opposite directions – negative relationship/inverse relationship. Variables have a maximum or a minimum. Variables are unrelated. When a relationship involves more than two variables, we can plot the relationship between two of the variables by holding other variables constant—by using ceteris paribus “if all other relevant things remain the same.” Economics is the social science that studies the choices that individuals, businesses, governments, and entire societies make as they cope with sca
More Less
Unlock Document

Only 80% of the first page are available for preview. Some parts have been intentionally blurred.

Unlock Document
You're Reading a Preview

Unlock to view full version

Unlock Document

Log In


Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.