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Index Numbers

Question
CBSEENST11024583
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Read the following table carefully and give your comments.

INDEX OF INDUSTRIAL PRODUCTION (BASE 1993-94)

Industry

Weight in %

1996-97

2003-2004

General index

100

130.8

189.0

Mining and quarrying

10.73

118.2

146.9

Manufacturing

79.58

133.6

196.6

Electricity

10.69

122.0

172.6

Solution

The table shows that the growth performance of the broad industrial categories differ. The general index represents the average performances of these categories.There is about 45% rise in general index. There has been a comparatively lower performance of mining and quarrying. It is about 25%. The comparatively lower performance of mining and quarrying has not been able to push down the general index due to high increase in manufacturing index and due to maximum weightage given to this sector.

Some More Questions From Index Numbers Chapter

A consumer price index measures changes in:

 

The item having the highest weight in consumer price index for industrial workers is:

 

In general, inflation is calculated by using:

 

 The item having the highest weight in consumer’s price index for industrial workers is:

consumer price index measures changes in:

The wholesale price index.

D.A. paid to the workers is based on:

 

Why do we need an index number?

Why is it essential to have different CPIs for different categories of consumers?

What does a consumer price index for industrial workers measure?

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