The Equation Of A Straight Line

CHAPTER 2: THE EQUATION OF A STRAIGHT LINE.Chapter PreviewThis chapter begins to establish a formal relationship between mathematics and its use in business and economics. Economics studies the relationship between different parts of an economic system; for an example,the relationship between the price of a good and quantity demanded,between personal income and consumption,between production and costs. 2.1 How to define a straight lineA straight line may be defined by two properties:Slope, usually represented by by the symbol mVertical ( Y-) intercept, the point at which the line crosses the y-axis usually represented by the symbol c.NB: The vertical or y-intercept is often simply called ‘the intercept’.2.2. Slope634746062230518541062230The slope of a line is simply the ‘slant’ of the line.37185593810The slope is negative if the line is falling from left to right 21278851276350212788513398500The zero slope: horizontal line <w:b