Graphs in Economics — Flashcards
Gujarat Board · Class 12 · Economics
20 flashcards for Graphs in Economics (Gujarat Board Class 12 Economics) to test yourself on key terms and facts. Sample: "What is a diagram in economics?"
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What is a diagram in economics?
Answer
A diagram is a representation of observable data by way of a picture. It is drawn for data with discrete frequency distribution and is self-explanatory. Lay persons do not require detailed knowledge o…
What is a graph in economics and how does it differ from a diagram?
Answer
A graph is a representation of observable data drawn for statistical information that is not self-explanatory. It is used for data with continuous frequency distribution and requires thorough knowledg…
List the six main importance points of diagrams and graphs in economics.
Answer
1. Makes difficult economics concepts easier and clearer 2. Shows trends of economic parameters over various years 3. Helps understand changes in different sectors of economy 4. Enables easy compariso…
What are the six key aspects to consider while drawing diagrams and graphs?
Answer
1. Choice of appropriate type and presentation 2. Clarity with neat appearance and different colors/shades 3. Proper scales and measures according to data 4. Clear representation of both axes with app…
What is a time-based line diagram and give an example?
Answer
A time-based line diagram shows self-explanatory trends of a variable over different time periods. The independent variable (time) is on X-axis and dependent variable is on Y-axis. Examples include po…
Define a simple bar diagram and state its characteristics.
Answer
A simple bar diagram represents values of only one variable over a base (regions, years, etc.). It provides visual comparison of variable values across different categories. Characteristics: Uses vert…
How does a clustered bar diagram differ from a simple bar diagram?
Answer
A clustered bar diagram shows values of a common variable for more than one section of related parameters over a common base. Unlike simple bar diagrams that show one variable, clustered diagrams crea…
What is a divided bar diagram and when is it used?
Answer
A divided bar diagram is used when every single value of a variable has sub-categories. Each bar is divided into sections representing different components of the total value. All divisions are colore…
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