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When two variables are being examined, and one variable moves one way and the other variable moves in the opposite direction, this is called an inverse relation.
Correlation is a statistical degree (expressed as various) that describes the size and path of a courting among or extra variables. A correlation between variables, however, does now not robotically suggest that the trade in a single variable is the purpose of the alternate inside the values of the opposite variable.
A positive correlation is clear while variables move within an equal course. An inverse correlation is clear whilst variables circulate inside the opposite route.
A negative correlation is a relationship among variables that pass in contrary instructions. In other phrases, while variable A increases, variable B decreases. A poor correlation is likewise known as an inverse correlation.
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When two variables are being examined, and one variable moves one way and the other variable moves in the opposite direction, this is called a(n): Inverse Relationship.
Consumption is subject to diminishing marginal utility. -A lower price increases the purchasing power of a buyer's income, enabling a buyer to purchase more of a product.
The law of supply and demand is a keystone of modern economics. According to this theory, the price of goods is inversely related to the quantity offered. This makes sense for many goods, since the more costly it becomes, fewer people will be able to afford them and demand will subsequently drop.
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