Question

What are the various methods of constructing index numbers?

Solution

Following are main methods of constructing index number:

(i) Simple Aggregative method (ii) Simple average of price relative method (tit) Weighted Aggregative method and (iv) Weighted average of price relative method.

Some More Questions From Index Numbers Chapter

consumer price index measures changes in:

The wholesale price index.

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Index Numbers

What are the various methods of constructing index numbers?

Some More Questions From Index Numbers Chapter

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.

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