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X-AXIS: In a graph, this is one of two lines that intersect at a right angle at their origins. This is the "horizontal-axis" that runs from right and left. In most analyses, the variable measured on the X-axis is consider to be the independent variable.
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ASSUMPTIONS, PRODUCTION POSSIBILITIES The four key assumptions underlying production possibilities analysis are: (1) resources are used to produce one or both of only two goods, (2) the quantities of the resources do not change, (3) technology and production techniques do not change, and (4) resources are used in a technically efficient way.
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John Maynard Keynes was born the same year Karl Marx died.
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"Democracy is based on the conviction that man has the moral and intellectual capacity . . . to govern himself with reason and justice. " -- Harry Truman, 33rd U.S. president
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