The graph is describing a high pass filter, ie the high frequencies are passed through the filter and the low frequencies are blocked. You use such a filter to connect tweeters, blocking low frequencies to prevent damage and to integrate the tweeter with the rest of the speaker.
Filters can be 1st order, 2nd order, 3rd order etc., and roll off the low frequencies at 6dB/octave, 12dB/octave, 18dB/octave etc. That filter looks to be 2nd order. It appears to contain resistors which suggests it has been designed for a specific application (maybe a JBL L88?).