+91-8076753736 support@wiredfaculty.com

Sponsor Area

Index Numbers

Question

Wired Faculty App

Give utility of Index Numbers.

Solution

Utility of Index Numbers:

1. Index Numbers are helpful to policy makers.

2. Index Numbers simplify the facts.

3. Comparative study become easy.

4. Index number help us to study the general trend.

5. They are helpful in determination of real change in income.

Some More Questions From Index Numbers Chapter

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?

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?

Mock Test Series

Mock Test Series

NCERT Sample Papers

Entrance Exams Preparation