Graphs, Charts And Tables With Relevant Examples - SS1 Economics Lesson Note
Graphs, charts, and tables are essential tools in economic analysis. They help to illustrate and present data in a visual and easily understandable format. Examples of graphs used in the economic analysis include:
LINE GRAPHS: Line graphs are used to show changes in variables over time, such as changes in monthly expenses.
Steps for constructing a line graph:
Step 1: Gather the data you want to plot on your line graph.
Step 2: Decide on the scale of the x and y axes, and label them accordingly.
Step 3: Plot the data points on the graph, with the x-axis values on the horizontal axis and the y-axis values on the vertical axis.
Step 4: Connect the data points with a line, if desired.
Step 5: Add a title and any necessary annotations, such as axis labels, a legend, or data source information.
Word problem on Line graphs
Maria is tracking her progress in reading books over time. She read 2 books in January, 4 books in February, 6 books in March, and 8 books in April. Create a line graph to show Maria's book reading progress from January to April.
Solution:
Steps to Create a Line Graph:
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Choose a scale for the x-axis and y-axis.
Plot the data points for each month on the graph.
Connect the data points with a line.
Label the x-axis with the months and the y-axis with the number of books read.
Title the graph.
BAR GRAPHS: Bar charts are used to compare values across categories, such as government spending on different sectors.
Steps for constructing a bar chart:
Step 1: Gather the data you want to plot on your bar chart.
Step 2: Decide on the scale of the x and y axes, and label them accordingly.
Step 3: Draw a horizontal or vertical axis, depending on the orientation of the chart, and mark the scale intervals.
Step 4: Draw rectangular bars above or beside each axis value, with the height or width of each bar representing the value for that category.
Step 5: Add a title and any necessary annotations, such as axis labels, a legend, or data source information.
Step 1: Gather the data you want to plot on your pie chart.
Step 2: Calculate the total value of all the data points, and use this to determine the percentage of the total that each data point represents.
Step 3: Draw a circle, and divide it into slices proportional to the percentage of each data point.
Step 4: Label each slice with the corresponding data point and its percentage of the total.
Step 5: Add a title and any necessary annotations, such as data source information.
Word problem on Bar charts
A company conducted a survey to find out which social media platforms their employees use the most. Out of 50 employees, 15 use Facebook, 10 use Twitter, 20 use LinkedIn, and 5 using Instagram. Create a bar chart to show the social media usage of the company's employees.
Solution:
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Determine the scale and labels for the x and y axes. For this chart, we'll use the social media platforms as the x-axis and the number of employees as the y-axis. The x-axis labels will be Facebook, Twitter, LinkedIn, and Instagram. The y-axis scale will range from 0 to 20, with intervals of 5.
Draw the horizontal axis and mark the scale intervals.
Draw a vertical axis and label it "Number of Employees".
Draw rectangular bars above the x-axis labels, with the height of each bar representing the number of employees who use that platform. For example, draw a bar above the label "Facebook" that goes up to the value of 15 on the y-axis.
Add a title to the chart, such as "Social Media Usage of Company Employees".
PIE CHARTS: Pie charts are used to show how a whole is divided into parts, such as the distribution of income across different income groups.
Steps for constructing a bar chart:
Step 1: Gather the data you want to plot on your pie chart.
Step 2: Calculate the total value of all the data points, and use this to determine the percentage of the total that each data point represents.
Step 3: Draw a circle, and divide it into slices proportional to the percentage of each data point.
Step 4: Label each slice with the corresponding data point and its percentage of the total.
Step 5: Add a title and any necessary annotations, such as data source information.
Word problem on Pie charts:
A school has 100 students, and the principal wants to know how many of them play sports. Out of 100 students, 30 play basketball, 20 play football, 15 play tennis, and 35 do not play any sports. Create a pie chart to show the distribution of sports players and non-players in the school.
Steps to Solve and Draw a Pie Graph:
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Calculate the total number of students who play sports: 30 + 20 + 15 = 65
Calculate the number of students who do not play sports: 100 - 35 = 65
Calculate the percentage of students who play each sport:
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Basketball: (30/100) x 100% = 30%
Football: (20/100) x 100% = 20%
Tennis: (15/100) x 100% = 15%
None: (35/100) x 100% = 35%
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Basketball: 30% x 360° = 108°
Football: 20% x 360° = 72°
Tennis: 15% x 360° = 54°
None: 35% x 360° = 126°
