JAMB - Economics (2012 - No. 3)
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
Explanation
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.
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