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Economics · Class 12 Commerce

Ch 1Graphs in Economics — Class 12 Economics, concept-first.

The Gujarat Board (GSHSEB) Std-12 Commerce Economics syllabus opens its second-year study of Economics with a short but important tool-chapter: how economists use graphs and diagrams to present and read data.

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Concepts

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Key concepts

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Graphic Presentation of Data

A graph plots a continuous, quantitative relationship between two variables on a pair of coordinate axes — a line graph for a trend over time, or an economic curve (demand, supply, cost, Lorenz, Phillips) for a functiona…

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Chapter contents

The NCERT structure, section by section. Open a section to see its questions, then read the concept-first solution.

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Why Economics Uses Graphs

The Gujarat Board (GSHSEB) Std-12 Commerce Economics syllabus opens its second-year study of Economics with a short but important tool-chapter: how economists use graphs and diagrams to present and re…

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Diagrammatic Presentation: Bar Diagrams and Pie Diagrams

A bar diagram represents data using a series of bars (rectangles) of equal width, with the height (or length) of each bar proportional to the value it represents.

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Graphic Presentation: Line Graphs and Economic Curves

A line graph plots successive values of a variable — most often against time — as points on a coordinate system, and joins the points with straight-line segments.

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Constructing a Graph: Axes, Origin and Scale

Every graph in this chapter is built on the same skeleton: two straight reference lines drawn perpendicular to each other.

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Slope of a Line

The slope of a line measures how much the variable on the Y-axis changes for a one-unit change in the variable on the X-axis — in other words, the rate of change of one variable with respect to the ot…

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Intercept of a Line

The intercept of a line is the point where it crosses an axis.

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Equation of a Straight Line and Linear Economic Functions

Once we know a line's slope and intercept, we can write down its full equation — and, just as usefully, go the other way: from an equation (or from two known points), work out the slope and intercept,…

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Reading and Interpreting Economic Graphs: Movement vs Shift

Reading an economic graph correctly is as important as drawing one, and Gujarat Std-12 Commerce Economics exams frequently test exactly this skill with "identify whether this is a movement or a shift"…

Exercises

+Show 8 questions8 questions
  1. Q5By long-standing convention in Economics, when drawing a demand-and-supply diagram, which variable is plotted on the X-axis? (a) Price (b) Q…Free
  2. Q6Distinguish between a 'diagram' and a 'graph' as used in the presentation of economic data.Free
  3. Q7What is the slope of (i) a horizontal line, and (ii) a vertical line? Give one economic example of each.Free
  4. Q8The slope of a normal demand curve is generally __________, while the slope of a normal supply curve is generally __________. (a) positive;…Preview
  5. Q9Distinguish between a 'movement along a demand curve' and a 'shift of the demand curve', giving one example of each.Preview
  6. Q10A linear supply function is given as $P = 20 + 0.5Q$. Find (a) the slope, (b) the Y-intercept and its meaning, and (c) the quantity supplied…Preview
  7. Q11State any two advantages of using diagrams and graphs to present economic data, instead of presenting the same data only as a table of numbe…Preview
  8. Q12The following (hypothetical) table shows the average price of a commodity over five years. Draw a line graph for this data and describe the…Preview

Sample & Board Papers

Sample papers and previous-year board questions for this subject.

+Show 20 questions20 questions
  1. Q1For which type of distribution a graph is drawn? (a) Continuous (b) Discrete / Discontinuous (c) Skewed (d) IdealPreview
  2. Q2State the important aspects to be considered while drawing a diagram and a graph.Preview
  3. Q3Represent the following data in a bar diagram and analyse it: | Country | Norway | America | Srilanka | India | Pakistan | |---|---|---|---|…Preview
  4. Q4When in a bar diagram, we get divisions in all the bars which represent a common variable and common base value, is known as which diagram?…Preview
  5. Q5From the below mentioned, which type is not included in graphs? (a) (A) Histogram (b) (B) Frequency Curve (c) (C) Frequency Polygon (d) (D)…Preview
  6. Q6State the formula for pie diagram.Preview
  7. Q7Write any four types of diagram.Preview
  8. Q8State the important aspects to be considered while drawing a diagram and a graph.Preview
  9. Q9Represent and analyse the following data in a bar diagram : | Year | 1931 | 1961 | 1991 | 2001 | 2011 | | --- | --- | --- | --- | --- | ---…Preview
  10. Q10For which type of distribution a diagram is drawn? (a) Discrete/Discontinuous (b) Continuous (c) Ideal (d) SkewedPreview
  11. Q11Give the difference between diagrams and graphs. [Any 2 points]Preview
  12. Q12State any two important aspects to be considered while drawing a pie diagram.Preview
  13. Q13Draw a time series diagram and analyse it on the basis of given data: | YEAR | 1990-92 | 2000-02 | 2005-07 | 2010-12 | 2014-16 | |---|---|--…Preview
  14. Q14Which type of organization presents data CDs pertaining to economic information? (a) Private publishers (b) Schools (c) Laboratories, Resear…Preview
  15. Q15Which of the following is a type of diagram? (a) Pictogram (b) Histogram (c) Frequency polygon (d) Frequency curvePreview
  16. Q16Give the formula of Pie diagram.Preview
  17. Q17Give the caution areas in using internet technology for studying.Preview
  18. Q18What is meant by a graph and for what purpose it is drawn?Preview
  19. Q19Write the important aspects to be considered while drawing a diagram and a graph.Preview
  20. Q20(A) This question is for General Students. Draw a bar diagram and analyse it on the basis of below given informations: | Year | Population (…Preview

More questions

+Show 4 questions4 questions
  1. Example 1The following (hypothetical) data shows the contribution of three sectors to a state's income in a year. Draw a pie diagram and show your ca…Free
  2. Example 2A demand schedule shows that when price is Rs. 10, quantity demanded is 20 units; when price falls to Rs. 8, quantity demanded rises to 30 u…Free
  3. Example 3A linear demand function is given as $P = 100 - 2Q$. Find the Y-intercept and the X-intercept of this demand line, and state what each repre…Preview
  4. Example 4A demand schedule shows two points: when price is Rs. 12, quantity demanded is 40 units; when price is Rs. 8, quantity demanded is 60 units.…Preview