Final answer:
In mathematics, equivalent graphs have the same number of vertices and edge connections. Understanding graphs and their slopes, represented by the equation y = b + mx, is essential in exploring economic relationships through visual means like line, bar, and pie graphs.
Step-by-step explanation:
The question refers to the concept of graphs in mathematics, specifically in its application to represent economic concepts. When discussing graphs that are equivalent, we mean that they have the same number of vertices and the same edge connections, despite potentially different vertex labels or their arrangement in space. To understand these concepts, we use mathematical equations such as y = b + mx, where 'y' is the variable on the vertical axis, 'x' is the variable on the horizontal axis, 'b' is the y-intercept, and 'm' is the slope. The slope of the line on a graph represents the relationship between two variables which could be positive, negative, or zero. This relationship is crucial in understanding various economic models which can be solved both algebraically and graphically using different types of graphs such as line graphs, pie graphs, and bar graphs—each illustrating data and relationships in unique ways.