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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.
However, we've probably been doing so on charts that look like this: But since we're blasting ahead in math, we'll soon be graphing on charts that look like this: This is called a Cartesian coordinate graph. It's made up of two axes (axes is just the plural of axis): The horizontal axis is called the x-axis. And the vertical one is the y-axis. When the two axes meet, they form four quadrants.