As index number which accounts for the relative importance of the items is knwon as:

• weighted Index

   

• simple aggregative Index

   

• simple average of relatives

In most of the weighted index numbers the weight pertains to:

 

•  base year

   

• current year

• both base and current year

The impact of change in the price of a commodity with little weight in the index will be:

• small

   

• large

• uncertain

A consumer price index measures changes in:

 

• retail prices

   

•  whole sale prices

• production prices