In an economic graph, why is it important to properly label the axes, particularly when interpreting data?

Properly labeling the axes of an economic graph is crucial because it helps viewers understand what the data represents. The horizontal axis usually shows one variable, like time or quantity, while the vertical axis shows another, such as price or cost. If the axes are not labeled correctly, people might misinterpret the information, leading to wrong conclusions about trends or relationships. For example, if a graph shows the price of a product over time but the time axis is not labeled, someone might assume the price is changing based on the wrong time frame. Clear labels ensure that everyone reading the graph can accurately understand and analyze the data presented.