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The vertical line is known as the y axis. It is nothing more than a measuring stick to count how far up or down a point is from the horizontal line. The horizontal line, then, is known as the x axis and measures the distance left or right from the vertical line.
The vertical axis on the graph is your y- axis. Your y-axis is where you plot your y-intercept, or starting point, when you are graphing. In other words, your y-axis is the up and down line on your graph. Where the red line intercepts with the two is your y-axis.