Change: is where all other factors not explicitly under consideration are assumed to stay constant. This is helpful because an economist can then focus on the price of the product and purchase of the product without being confused by other variables. Graphical Expression Graphs: a visual representation   View changes from previous version. (Word count: 0)

Change: other variables. Graphical Expression Graphs: a visual representation of the relationship between two variables. Graphs can help economists visualize and understand economic relationships. Economists usually use graphs to illustrate their models.Types of GraphsProduction Possibilities Curve (PPC)- used to determine the maximum production possible when fully employed   View changes from previous version. (Word count: 335)

Change: on thepricethe price of the product and purchase of the product without being confused by other variable.variables. Importance of graphs: Graphs: a visual representation of the relationship between two variables. Graphs can help economists visualize and understand economic relationships. Economists usually use graphs to illustrate their models.   View changes from previous version. (Word count: 310)

Change:  This is helpful because an economist can then focus on theprice of the product and purchase of the product without being confused by other variable. Importance of graphs: Graphs: a visual representation of the relationship between two variables. Graphs can help economists visualize and   View changes from previous version. (Word count: 266)

Change: paribus: "All Things Equal"Ceteris paribus is where all other factors not explicitly under consideration are assumed to stay constant.Importance of graphs: Graph: a visual representation of the relationship between two variables. Graphs can help economists visualize and understand economic relationships. Economists usually use graphs to illustrate their models.   View changes from previous version. (Word count: 240)

Change:  A statement about economic behavior or the economy that helps predict various probable effects from a certain action. These are developed using the scientific method which involves: A well tested and well accepted theory becomes an economic principle(Generalization about the economic behavior of individuals or institutes) Ceteris paribus:   View changes from previous version. (Word count: 195)

Change:  principle Ceteris paribus:Ceteris paribus is where all other factors not explicitly under consideration are assumed to stay constant.Importance of graphs: Graph: a visual representation of the relationship between two variables. Graphs can help economists visualize and understand economic relationships. Economists usually use graphs to illustrate their models.   View changes from previous version. (Word count: 131)

Change: There were only format changes (bold, italics, etc.) in this version. See this version for details. (Word count: 104)

Change:  A statement about economic behavior or the economy that helps predict various probable effects from a certain action. A well tested and well accepted theory becomes an economic principleCeteris paribus: Ceteris paribus is where all other factors not explicitly under consideration are assumed to stay constant.Importance of graphs:   View changes from previous version. (Word count: 54)

Change: Scientific method:Economic principle:Ceteris paribus:Importance of graphs:   View changes from previous version. (Word count: 9)