Show the methods of constructing index numbers with the help of a diagram.
Method of constructing simple index numbers:
(a) Simple aggregative method
(b) Simple average of price relative method
(ii) Methods of constructing weighted index numbers.
(a) Weighted aggregative method
(b) Weighted average of price relatives method
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?
What is the difference between a price index and a quantity index?
Mock Test Series
