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The discussion is done by making use of illustrations of graphs and tables. Graphs and tables are necessary tools in the business world as they provide an insight of how businesses use numbers. These numbers show…
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due: Writing assignment This paper will discuss various concepts used in economics. The discussion is done by making use of illustrations of graphs and tables. Graphs and tables are necessary tools in the business world as they provide an insight of how businesses use numbers. These numbers show changes with time as a variable, draw a comparison of two or more companies and also show computations of a number in different ways. WSJ online website will be the source of graphs essential for this analysis.
Figure 1: Source: Wall Street Journal. "Market Data Centre." The Wall Street Journal. Dow Jones & Company, 3 Nov. 2014. Web. 26 Nov. 2014. Figure 1 above shows the sales of cars and light trucks in the U.S retail market. The variables used are time in years against the cars, either cars or light trucks. Further analysis is done on the effect of the car sales to fuel sales at the pump. A graph of fuel is drawn, showing the weekly retail price per gallon. The graph changes from week to week and is directly affected by the number as well as the type of the cars sold (The Wall Street Journal, Para 1).
Figure 2.Source: Gold, WSJ research, Global oil glut send prices plunging, October 14, 2014. Gold, Russel. "Global Oil Glut Sends Prices Plunging." The Wall Street Journal. Dow Jones & Company, 14 Oct. 2014. Web. 27 Nov. 2014. .
In the graph above, a graph is used to illustrate the changes of prices of oil in the different months. Numbers are used to represent the sales in million dollars against the months of the year, and that is from the beginning of June to the end of October (Gold para 1). The graph shows how the fall in the prices of oil affects the output. The low oil prices will serve as an incentive for producers, resulting in high production.
Figure 3. Source: Source: Gold, WSJ research, Global oil glut send prices plunging, October 14, 2014. Gold, Russel. "Global Oil Glut Sends Prices Plunging." The Wall Street Journal. Dow Jones & Company, 14 Oct. 2014. Web. 27 Nov. 2014. .
The graph above shows illustrates the sale petroleum by different oil companies. The sale is represented in percentages starting with the one having the highest percentage to the one with the lowest. This allows easy interpretation of the graph, from the complexity of large numbers involved (Gold para 3).
Figure 4: Source: Madigan, Kathleen. "A New Way to Track the Ecnomy." WALL STREET JOURNAL. Dow Jones & Company, 26 Nov. 2014. Web. 26 Nov. 2014. .
Figure 4 above shows the gives an illustration on tracking the economy of U.S in comparison with the other nations. The graph uses time in years against percentage growth as the variables for tracking the behavior of the economy. The economic growth is measured for a period of ten years. Any reading above zero implies more positive news about the economic growth (Madigan para 1).
Conclusion
Numbers are important tools in the analysis of economic concepts. Incorporating the numbers in graphs and tables allows the analyst to represent voluminous information in a simple and user-friendly way as seen in the discussion above. This allows us to analyze the data easily.
Works cited
Gold, WSJ research, Global oil glut send prices plunging, October 14, 2014. Gold, Russel.
"Global Oil Glut Sends Prices Plunging." The Wall Street Journal. Dow Jones & Company, 14 Oct. 2014. Web. 27 Nov. 2014. .
Madigan, Kathleen. "A New Way to Track the Ecnomy." Wall Street Journal. Dow
Jones & Company, 26 Nov. 2014. Web. 26 Nov. 2014. .
The Wall Street Journal. "Market Data Centre." The Wall Street Journal. Dow Jones &
Company, 3 Nov. 2014. Web. 26 Nov. 2014. Read More
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