Define index number.
An index number is a statistical measure designed to show change in a variable or group of related variables with respect to time, geographic location or other characteristics.
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?
What is the difference between a price index and a quantity index?
Is the change in any price reflected in price index number?
Can the CPI for urban non-manual employees represent the changes in the cost of living of the President of India?
Try to list the important items of consumption in your family.
Mock Test Series
