GRAPHS IN ECONOMICS — Economics STD 12 Commerce — Question
Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsGRAPHS IN ECONOMICS3 Marks
Question
State the role of Excel sheets in economics.
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Answer
Excel worksheets:
Economics deals with lots of data. Researchers come across data having thousands of observations on a daily basis. It is almost impossible to handle so much data manually.
Microsoft Excel is a powerful tool for handling large data related to several economic parameters and then and performing analysis on it.
For example, if we survey on number of items produced by small scale industries in India, we would get thousands of observations.
We can feed this data in excel and get various figures such as total production, average production, number of units in a given region, total exports, etc. within seconds.
Excel also has numerous types of graphs and diagrams which can be created within a click.
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