Graphs are used in economics to portray the association between observed variables in the real world and also between hypothetical ones used in the construction of economic models.
A graph represents relationships pictorially. It is drawn on squared paper, on which two vertical lines are drawn, known as axes, which intersect at a point called the origin. Each axis is divided by a scale into units. Along these quantities of a variable are measured.
Figure A.1 is a graph which has been prepared to show the relationship between the price of ice creams and the numbers that are offered