# pie chart and its uses in economics activities

PIE CHARTS (OR GRAPHS) AND ITS USES IN ECONOMIC what is a pie chart: A pie chart or graph is a simple circle of any convenient size which is divided into sections or sectors, each of which is proportional to the quantity or value it represents.

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How to make a bar graph in Google sheets | A line chart, pie chart, bar graph, and more

### HOW IS A PIE CHART MEASURED?

The pie chart is usually measured either in percentage or in degrees with the aid of a mathematical device called a protractor. The entire circle is represented by 360o or 100% and each sector is measured in degrees with the aid of a protractor.

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1. public enterprises
2. private enterprises
3. limited liability companies
4. migration
5. population
6. market concept
7. money market
8. shares
9. how companies raises funds for expansion
10.

#### Methods of constructing a pie chart

Add up the total figure of the product or value under consideration.

Work out the percentage or degree the total which each component part represents.

Draw a circle of a convenient size.

Divide the circle up into sector suspended by these angles calculated in step (ii) above using a protractor.

Write the percentage or degree of each sector by it.

Use key where the information cannot be written inside the circle to show what each sector represents.

k #### HOW TO USE A PIE CHART TO SOLVE ECONOMIC DATA REPRESENTATION

Example 1 of the proper use the pie chart

Represent the information I table by means of pie chart, the value of the most important exports of Nigeria in 1980, both in percentages and in degrees.

Table 2.3: Value of the most important exports on Nigeria in 1980.

Solution

• Add up the total value of all the products, i.e. 200 + 140 + 240 + 50 + 90 = 720.
• Arrange your workings or calculations as follows:

Using the values in degree, i.e. 100%, 70o, 120o, 25o and 45o, a pie chart in Fig. 2.2 is now drawn using a protractor.

##### Pie chart showing value of the most important exports of Nigeria in 1980.

Example 2

The table below shows the sectoral allocation of a country’s budget. Illustrate the data accurately with a pi chart. Show your workings clearly.

Table 2.4: Sectoral allocation of a country’s budget.

Sector                                     Amount (N Million)

Health                                     30

Education                    25

Housing                       15

Manufacturing            10ul

Solution

Total                100                  360o

• Add up the total value of all the sectors, i.e. 30 + 25 + 15 + 10 + 20 = 100
• Arrange your workings or calculations in the following manner only in degrees.
• Using the values in degrees, i.e. 108o, 90o, 54o, 36o and 72o, a pie chart is now drawn.

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