Most Important Diagrams in Microeconomics and Macroeconomics

When we learn about economics and as we go via the chapters, what straight away captures our interest is that most principles are interpreted through diagrams. Be it from the primary thinking of demand and supply in microeconomics to the idea of excess demand in macroeconomics, each and every relationship or variable is introduced diagrammatically.

So, a query generally pops up while writing an answer: is it essential to include diagrams?

The reply is yes! The motives are many. Diagrams assist you to visualise and interpret relationships between elements which are important. They allow appreciation of financial concepts. And to top your class, they can play the game changer to assist you score greater marks—a scholar with neater diagrams constantly receives extra marks amongst classmates with answers which read alike. While diagrams used in solutions supply the examiner a proper impression, it is vital that they are solely used in applicable questions.

Both Microeconomics and Macroeconomics have diagrams which you need to now not pass over when studying.

To make your practise simple, beneath is a listing of necessary subjects which have diagrams. You should revise these thoroughly.

Topics in Microeconomics and Macroeconomics with diagrams

Now that you have this listing of essential standards which have diagrams, notice them down and do no longer omit practising these diagrams and the usage of them in your answers.

Diagrams in economics

When it comes to incorporating diagrams in your answers, understand these few points.

1.    An image or graph can say more. It offers the examiner an affect that you have truly understood the concept. Use diagrams appropriately.

2.    Use diagrams solely for applicable questions and now not in each answer.

3.    Marks are specially distributed for diagrams in questions. Use them in your reply to get these bonus marks.

4.    All diagrams can also now not be associated to a schedule. Combine the two only when required to avoid any confusion and error.

5.    Diagrams should be clearly seen and factors need to be accurate.

6.    Labelling of axes, curves and equilibrium is important.

7.    Don't strive to mug up the diagram. Practise and recognize the idea the use of the diagram.

8.    We’ll seem at a query to examine how you can include a format in your answer.

Here at COC Education we provided best online video classes to students of CA/CMA/B.COM/M.COM/CLASS11-12th(COMMERCE).

ENROLLED WITH US TODAY AND ENLIGHTEN YOUR CAREER!!!