Economic Skills: Data Sets
What is Economics?
Economics is the study of how people chose to use resources and money.
Economists compare data sets to draw conclusions about relationships among them.(11)
Economics is the study of how people chose to use resources and money.
Economists compare data sets to draw conclusions about relationships among them.(11)
1. Ways To Represent Data
2. Frequency Tables and Dot Plots
A dot plot is like a bar chart, but it displays data using dots (not bars).
And a frequency table is like a dot plot, but it displays data in a simple table (not a fancy diagram).
A dot plot is like a bar chart, but it displays data using dots (not bars).
And a frequency table is like a dot plot, but it displays data in a simple table (not a fancy diagram).
More Practice with Frequency Tables and Dot Plots
3. Statistics
Statistics help us answer many questions, but not all questions are statistical.
In this tutorial, we'll learn to tell the difference between a statistical question and a non-statistical question.
Statistics help us answer many questions, but not all questions are statistical.
In this tutorial, we'll learn to tell the difference between a statistical question and a non-statistical question.
4. Histograms
Histograms are similar to dot plots and bar graphs, but they work a little bit differently.
In this tutorial, we'll learn how histograms work and when to use them.
Histograms are similar to dot plots and bar graphs, but they work a little bit differently.
In this tutorial, we'll learn how histograms work and when to use them.
5. Mean, Median, and Mode
Mean and median are measures of "central tendency."
That is, they help us find the center (or middle) of the data.
In this tutorial, we'll learn how to compute mean and median.
Mean and median are measures of "central tendency."
That is, they help us find the center (or middle) of the data.
In this tutorial, we'll learn how to compute mean and median.
Using Mean to Find Missing Value
6. Median and Range
7. Box Plots
12.The choices people make have both present and future consequences. The evaluation of choices is relative and may differ across individuals and societies.
Economics Concepts
The fundamental questions of economics include what to produce, how to produce and for whom to produce. (13)
14.When regions and/or countries specialize, global trade occurs. (14)
The interaction of supply and demand, influenced by competition, helps to determine price in a market.
This interaction also determines the quantities of outputs produced and the quantities of inputs used. (15)
(human resources, natural resources and capital)
Financial Literacy
16.When selecting items to buy, individuals can compare the price and quality of available goods and services.
BARTERING
TRADE ROUTES
NOMADS (HUNTERS AND GATHERERS)
A nomad is someone who lives by traveling from place to place. Nomadic thus means anything that involves moving around a lot. Nomadic hunter-gatherer tribes follow the animals they hunt, carrying tents with them.