Review of Tables: Price of Corn versus Quantity Demanded

In the unit on tables we were introduced to the table here.

Table Title--gives an overview of the information displayed.
From the title of this table we expect to find out specifics on what prices correspond to levels of demand.
Row/Column Labels--indicates what type of information is contained in that row or column.
This table has 2 columns. From the labels we find out not only the price in one column and demand in the other, but also the units in which each is given.
Column 1: The first is labeled Price per Bushel in units of dollars.
Column 2: The second column is labeled Demand per Week in units of bushels.

Price of Corn versus Quantity Demanded
Price per Bushel
(dollars) Quantity Demanded
per Week
(bushels)

5 10

4 20

3 35

2 55

1 80

Information From Cells--
We identify a cell by its row and column.
Often we are asked to determine specific data from a table. For example, we may be asked:
What is the demand for corn when the price per bushel is $2? What we need to do is identify the designated cell we want to look at, so we need a row and column designation.

We want information located in the Quantity Demanded per Week column.
First we locate the row where the price is $2: This is in the fourth row.
So we want the Quantity Demanded per Week in the fourth row.
The column that contains the information we want is the second column.
When we locate the fourth row, second column we find the answer of 55 bushels.

Price of Corn versus Quantity Demanded
Price per Bushel (dollars)	Quantity Demanded per Week (bushels)
5	10
4	20
3	35
2 ->	55
1	80

Information Within Columns or Rows--
Looking across a row, or down a column, we can often spot any relationships that occur. People often want to determine if there is any relationship between the rows or columns in the table.
In this example we can see a trend in the data:

As we go down the price column, we see that the price drops from:

$5 per bushel to
$1 per bushel.

Price of Corn versus Quantity Demanded
Price (dollars)	Quantity (bushels)
5	10
4	20
3	35
2	55
1	80

If we look at the column for quantity, it goes up as we move down the column. from:

10 bushels to
80 bushels

So we can say that, as price per bushel decreases, the quantity demanded increases.
This particular type of relationship is called an inverse relationship because as one column goes up, the other goes down.

Being able to make these kinds of statements about information given in tables is helpful, not only in your academic work, but also in understanding information presented in magazines, newspapers, and on television.

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