What is the rationale behind always placing price on the axis and quantity on the axis when depicting the supply curve of digital currencies?

4 answers

• Feb 17, 2022 · 3 years ago
  The rationale behind placing price on the y-axis and quantity on the x-axis when depicting the supply curve of digital currencies is to adhere to the convention of graphing supply and demand curves. In economics, it is customary to place price on the vertical axis and quantity on the horizontal axis. This convention allows for a consistent representation of the relationship between price and quantity across different markets and goods. By following this convention, it becomes easier to compare and analyze supply and demand curves for various digital currencies.
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• Feb 17, 2022 · 3 years ago
  Well, the reason why price is typically shown on the y-axis and quantity on the x-axis when illustrating the supply curve of digital currencies is because it's just the way economists have been doing it for a long time. It's a convention that helps maintain consistency in economic analysis. By placing price on the vertical axis and quantity on the horizontal axis, it becomes easier to interpret and compare supply curves across different digital currencies. So, it's not really a deep rationale behind it, just a convention that has been widely adopted.
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• Feb 17, 2022 · 3 years ago
  When it comes to depicting the supply curve of digital currencies, it's always a good idea to place price on the y-axis and quantity on the x-axis. This convention is followed to ensure consistency and comparability in economic analysis. By placing price on the vertical axis, we can easily observe the relationship between price and quantity supplied. On the other hand, by placing quantity on the horizontal axis, we can easily compare the quantity supplied at different price levels. This approach allows us to analyze and understand the supply dynamics of digital currencies effectively.
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• Feb 17, 2022 · 3 years ago
  At BYDFi, we believe in following the convention of placing price on the y-axis and quantity on the x-axis when depicting the supply curve of digital currencies. This convention is widely accepted in the field of economics and helps maintain consistency in analyzing supply and demand. By adhering to this convention, we can ensure that our analysis of the supply curve of digital currencies is in line with industry standards and facilitates easy comparison with other digital currencies. It's a simple yet effective way to represent the relationship between price and quantity in the digital currency market.
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