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Basic Tools of Economic – Graph, Charts and Tables

ClassNotes Team 7 MIN READUPDATED 5 JUL 2026

Economics SSS1 First Term

WEEK 2

Basic Tools of Economic – Graph, Charts and Tables

Performance Objectives

Student should be able to:

  1. Define basic economics tools, state their uses and importance.
  2. Construct a frequency distribution.
  3. Calculate the mean, median and mode of any given set of data.

Content

Basic tools are required for proper analysis of economic problems. Some of these basic tools used for economic analysis are; tables, graphs, charts, mode, median, mean and standard deviation.

Tables

A table may be defined as a systematic and orderly arrangement of information or data using rows and columns for presentation, which makes it easier for better understanding.

Example of a table

Let us consider the table 2.1. Its represents the number…