Two most important approaches in the study of economics either with a graphical

Question

Two most important approaches in the study of economics either with a graphical analysis or a conceptual representation

You should use those to understand, explain, and predict any economic phenomenon. They are:

1) direction (i.e., __________ ). This will tell whether any economic variable will be either positive or negative, direct or inverse, increase or decrease, moving in the same or opposite direction, upward sloping or downward sloping, etc.

2) magnitude or size (i.e., _____________ ). This will tell you “how much” changes once you are pretty sure about the direction. This magnitude can be particularly important in economics because “how much changes” that can be represented in economics is exactly the way m__________ is used. Keep in mind that m__________ means “e_______”, “a____________” or “a c________ in.”

Explanation / Answer

1.Direction can be slope because slopes indicates the relationship between economic variable.Positive slope means direct relationship and negative slope means inverse relationship.

I don't understand the other questions.Please provide more clarity in the comments.

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