Chapter 1 Appendix: Time Series graphs Cross sectional graphs Scatter diagrams Relationship that have a max or min

Slope and Intercepts Relationship among more than 2 variables Problems: 1. 5+3y = 15 find horizontal intercept : y = 0 … 5x = 15 find vertical intercept x=0 …. 3y= 15 plot both points… draw straight line find slope. In this case - 5/3 (REMEMBER NEGATIVE) y = mx+c (use this to find slope algebraically) oy = mo+ 0 oy/ox= m 5x +3y = 15 3y= -5x+15 y = -5/3 + 5 2. Curve graphs… find tangeant. Draw tageants to show if a graph is increasing or decreasing. 3. x,y,z Graph ( a curve graph , negative correlation) X and y are always changing Z is a variable that may effect the graph ( eg. People’s incomes)

Chapter 2 : The Economic Problem 1. b/c oppurtuniy cost is increasing. Using Resources Efficiently  . PPF (production possibility frontier)  Scarcity  Trade-off  Productive efficiency  Opportunity cost  Increasing Oppurtunity Cost o Exam question: why does the ppf graph curved. 2..

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