ABSTRACT

This chapter explores all facets of linear equations. Linear equations allow to solve complex and changeable problems using a set of simple equations. Constants and variables are combined in the equations. A linear equation is an equation that is composed of two expressions set to be equal to each other. A linear equation should fulfill the following conditions: the equation has one or two variables, all variables of the equation are raised to the power of 1, and the graph of the equation forms a straight line. The Cartesian Plane is very important for understanding the concepts of supply and demand, as these are the most fundamental concepts in economics. The quantity of goods or services that a consumer is willing to pay for depends on many factors. When the price of certain goods rises, the quantity demanded falls. That is also why the demand curve always slopes downwards and the quantity and price curve changes in a different direction.