Notesale: Turn your study into money

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Class 12, Eco chapter 1 gseb
"Meaning of a Diagram and a Graph:
1
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It is drawn for selfexplanatory data
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Uses: For advertising agency to draw attention, for government to provide information,
for social organisation to spread awareness
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Graph:"
A representation of observed data by means of a line or a curve on a graph paper is
graph
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To draw a graph an appropriate
scale is must and also knowledge of statistics is essential to draw and understand it
Meaning of a Diagram and a Graph:
1
...
It is drawn for selfexplanatory data
...

Uses: For advertising agency to draw attention, for government to provide information,
for social organisation to spread awareness
...
Graph:
A representation of observed data by means of a line or a curve on a graph paper is
graph
...
To draw a graph an appropriate
scale is must and also knowledge of statistics is essential to draw and understand it
...

Importance of Diagrams and Graphs in Economics:
The study of economics is made easier by way of diagrams and graphs
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Changes occurring in various sectors of economy can also be easily understood
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Many difficult aspects of economics are presented through a diagram or a graph and
time and effort of presenting and understanding these aspects is saved
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Points to be considered while drawing a Diagram and a Graph:
1) Choice of type of Diagram or Graph and their presentations
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3)Selection of Scales and Measures
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5)To mention the source of data
6) To mention the method of calculating the data
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Time-based Line Diagrams (Curves):
Time-based line diagram or curve show the shape or slope of relationship between two
economic variables
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In this type of
diagram independent variable is measured on X-axis and dependent variable is
measured on Y-axis
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2
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In bar diagram width of
each bar is taken equal and its height (length) is taken proportional to the value of the
data
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• Clustered Bar Diagram: This type of diagram is drawn for more than one related
variables over a common base say various places, times, things, etc
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has sub-categories
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• The length (height) of respective bars should be proportional to the value of the
variable they represent
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• All bars are usually drawn on X-axis
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• All bars should be arranged from left to right in order of the data series
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The degree for a
component on a circle is obtained by the following formula: Degree = Component value

× 100/Total value
Points to be considered while drawing a Pie
Diagram:
• 360° degrees make a circle
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• For comparing the relevant data over two time periods or regions two pie diagrams
• For comparing the relevant data over two time periods or regions two pie diagrams
are to be drawn side by side by taking the radius of circle proportional to their data set
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This type of graphs are used
to find the trend of changes in economic activities
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Computer Technology
• Complicated economic data and difficult theories of economics can be made easy by
expressing in a power point presentation
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For example sum total,
averages, dispersion, correlation, etc
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• There are several programmes in a computer which help us to draw diagrams and
graphs in economics
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and we can access
this material and read it in any part of the world
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almost all types of
data can be processed in minutes by entering the right formulae
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• It helps to make the study easier and faster
but it does not replace the process of
studying
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If we do not know the correct formulae and commands, we may also end up getting
incorrect graphs and data processing
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Internet Technology:
Internet is a facility created by digital technology
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As active learning: Some videos of lectures by experts are put on open access sites
which students can listen on the net like we do in our classroom
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Also good research articles, copies of journals, etc
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Such materials
• As information: Information on universities offering degrees in economics and other
details on the subject economics we can get on internet
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Data collected by CSO
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are put on
websites
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Cautions in using Internet:
A lot of substandard material, irrelevant information, misleading information, ideas of
another are found on internet
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• Only authentic websites must be refferred to otherswise we may end up getting
misled
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collect and publish the data on macroeconomic
indicators and put huge data in compact discs
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for their studies
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Cautions in using CDs:
• The data CDs contain a huge data
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• A CD consists of several data sheets
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