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Don't loose out on valuable marks when drawing graphs in your Economics exam. Follow the steps below and practise drawing graphs when preparing for your exams.
Step 1: Write a title for the graph
The title is one of the most common elements that learners forget and for which they lose points. Always give your graph a title.
Step 2: Draw the vertical and horizontal axes
Make sure the two lines are connected at the left side and that each axis has an arrow at its end.
Step 3: Label the vertical and horizontal axes
Label the vertical and horizontal axes so that the examiner knows what they represent.
Step 4: Label the origin
Write '0' below and to the left of where the vertical and horizontal axes meet. This is the value where your vertical and horizontal axes begin.
Step 5: Decide on the scale
If you are given a table of values, you have to decide how you will number your axes. If you are asked to draw a graph without being given values of a table, you can skip this step.
Numbers on the vertical axis must increase by the same amount for every increment. Numbers on the horizontal axis must also increase by the same amount for every increment. The number by which each number increases is called the scale. For example:
Scale of 1: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, etc.
Sacle of 2: 2, 4, 6, 8, 10, 12, 14, 16, 18, etc.
Sacle of 5: 5, 10, 15, 20, 25, 30, etc.
Step 6: Draw the curves or lines of the graph
If you are given a table of values, draw each point and then connect the dots. If you are not given a table, simply draw the curve or line with the correct shape.
Step 7: Label the curves/lines
Label each curve and line clearly so that the examiner knows what they represent.
Step 8: Label important points
It is often necessary to identify a certain point on the graph such as the equilibrium. Label this point clearly. If there is not enough room to write the label directly next to the point, write the label in space and then draw an arrow from the label to the point.
