Basic Tools of Economic Analysis

Grade 10 · Economics

Semester 2 | Period 5 | Week 29

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Subject: Economics

Semester: 2

Period: 5

Week: 29

School Name:

Teacher’s Name:

Subject: Economics

Grade Level: Grade 10

Week & Period: Week 29, Period V

Date:

Topic: Basic Tools of Economic Analysis
Sub-topic: Measures of Central Tendency – Mode

Learning Objectives:

By the end of this lesson, learners should be able to:

  1. Define mode and explain its significance in Economics.
  2. Distinguish between modal class and mode in grouped and ungrouped data.
  3. Calculate mode from both raw data and frequency distribution tables.
  4. Apply the concept of mode to real-life economic scenarios.

 

Instructional Materials:

  • Chart paper with datasets
  • Pictorial illustrations (e.g. histogram)
  • Frequency distribution tables
  • Calculator
  • Sample income data
  • Rulers and graph boards

 

Anticipatory Set (Warm-Up):

Ask learners: “Which shoe size is most common in our class?”
Guide them to discover the idea of mode as the most frequent value in a dataset.

 

Building Background Knowledge (Main Lesson):

Definition of Mode:

  • The mode is the value that appears most frequently in a dataset.
  • A dataset may have:
    • One mode (unimodal)
    • Two modes (bimodal)
    • More than two modes (multimodal)

 

Ungrouped Data Example:

Find the mode in: 4, 5, 6, 5, 8, 9, 5, 10

  • Mode = 5 (appears 3 times, more than others)

 

Grouped Data Mode Formula:

 

Where:

  • L = lower boundary of modal class
  • = frequency of modal class
  •  = frequency before modal class
  • = frequency after modal class
  • w = class width

Example:

Class Interval

Frequency

10–19

5

20–29

12 ← modal class

30–39

9

40–49

4

L=19.5, f1=12, f0=5, f2=9, w=10

 

Application in Economics:

  • Mode helps in identifying the most common income, price, or demand level.
  • Especially useful in market analysis and product pricing.

 

Class Activities:

  1. Identify the mode in ungrouped class test scores.
  2. Solve grouped mode problems using the formula.
  3. Discuss the implication of modal salary in a factory.

 

Assessment Questions:

  1. Define mode and list types of datasets it applies to.
  2. What is the mode of: 12, 13, 15, 13, 16, 13, 18, 14?
  3. Use the data below to compute mode:

Class Interval

Frequency

0 – 9

3

10 – 19

7

20 – 29

10 ← modal class

30 – 39

5

 

Homework:

  • Find the mode of the following values: 22, 25, 22, 30, 25, 22, 25, 30, 25
  • Using the grouped data below, calculate the mode:

Income ($)

Frequency

100–199

8

200–299

12 ← modal class

300–399

9

400–499

6

 

Expanded Notes:

  • Mode is unaffected by extreme values.
  • Useful in market research to determine popular products.
  • Often used in demographics to determine common household size.

 

Differentiation:

  • Use color-coded frequency tables.
  • Group learners for peer solving.
  • Display graphs showing modal class visually.

 

Teacher’s Reflection:

  • Did learners understand when and why to use mode?
  • Were they able to correctly apply the grouped mode formula?
  • Could they relate mode to real-world economic issues?