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GRAPHS IN ECONOMICS — Economics STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsGRAPHS IN ECONOMICS3 Marks
Question
Define diagram and explain it.
✓

Answer

  • A pictorial representation of observed data is called a diagram.
  • Although one needs to make use of scale and measurement to draw a diagram, one does not need to have a thorough knowledge of statistics to draw it.
  • A diagram is drawn for data having discrete$($discontinuous$)$ frequency distribution. For example, the data could be
    1. No. of children born in a month,
    2. Price in rupees,
    3. No. of road accidents, etc.
  • Diagram is self-explanatory in nature and can be easily created and understood by anyone.
  • A diagram is used by advertising companies to attract customers, by government and other organizations to provide information, etc.
Example of discrete, $($discontinuous$)$ data:
Price $($In $Rs.)$ Demand $($in units Frequency$)$
$1$ $100$
$2$ $80$
$5$ $70$
$7$ $20$
$10$ $10$
Types of diagrams:
Most common types of diagrams used in economic study are –
  • Pictograph
  • Scatter diagram
  • Line diagram $($based on time periods$)$
  • Circle diagram
  • Bar diagram
  • Pie diagram

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