Tag: demand chart

Create a Basic Chart in Microsoft Excel

Create a Basic Chart in Microsoft Excel

When you have organized data in a table is very useful to show it in a better way than the simple data table.

You can create a Microsoft Excel Chart and show the data in a graphical way. In this video you can learn step by step how to do it.

In this example you can see a kind of Chart in Excel, but you can create a lot of different types of Chart to show your informacion

How to make a Supply and Demand Chart

How to Make a Supply and Demand Chart

 

 

One of the basics concepts in the economic class in the high school and in the university were the supply and demand law that is useful to know the price and the product quantity to satisfied a specific market

The supply and demand curve is usually plotted using the product price on the vertical axis and the quantity of the product on the horizontal axis. This time we will learn how to make a supply and demand curve in Excel.

SUPPLY CURVE

In simple words, the law of supply refers to producers and to maximize their profits. Therefore, the higher the price of a product, the greater the amount that the product want to provide. And conversely, the lower the price the lower the quantity supplied. The following table contains the data to graph a supply curve in Excel:

Supply Table

To create the corresponding graph is sufficient to select any cell in the table and go to the Chart tab and select the button Line, then Marked Line. Now you must pay attention because it is very likely to get a graph like this:

Supply Chart 1

To correct this graph we can click right on it and choose the Select data. Then we select the series called Quantity and click the Remove button:

Select Data for Supply Demand Chart

Then you have to put in the label Category (X) axis labels the range A3:A7 choosing the cells. As a final step we can change the name of the series Price by select the data source and set the cell A1 as the name of the series in the Name label. At the end we list changes a graph with the supply curve:

Initial Supply Chart

DEMAND CURVE

The law of demand states: Few people want expensive products. But if we have cheap products (almost given away), many people want them. See the following table for the data to graph a demand curve in Excel:

Demand Table

To include a line in our chart representing the demand curve must right click on the graph and select the Select data and add a new series whose values are in the range E3: E7.

Add a Serie for the Supply Chart

By accepting the changes we have ready our chart with a supply and demand curve in Excel.

Supply and Demand Chart in Excel