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प्रश्न
Mention the classification of Index Number
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उत्तर
Index number can be classified as follows:
(i) Price Index Number: It measures the general changes in the retail or wholesale price level of a particular or group of commodities.
(ii) Quantity Index Number: These are indices of measure the changes in the quantity of goods manufactured in a factory.
(iii) Cost of living Index Number: These are intended to study the effect of change in the price level on the cost of living of different classes of people.
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संबंधित प्रश्न
Define Index Number
Discuss about Cost of Living Index Number
Calculate price index number for 2005 by (a) Laspeyre’s (b) Paasche’s method
| Commodity | 1995 | 2005 | ||
| Price | Quantity | Price | Quantity | |
| A | 5 | 60 | 15 | 70 |
| B | 4 | 20 | 8 | 35 |
| C | 3 | 15 | 6 | 20 |
Using the following data, construct Fisher’s Ideal index and show how it satisfies Factor Reversal Test and Time Reversal Test?
| Commodity | Price in Rupees per unit | Number of units | ||
| Basic year | Current year | Base year | Current year | |
| A | 6 | 10 | 50 | 56 |
| B | 2 | 2 | 100 | 120 |
| C | 4 | 6 | 60 | 60 |
| D | 10 | 12 | 50 | 24 |
| E | 8 | 12 | 40 | 36 |
Calculate Fisher’s index number to the following data. Also show that it satisfies Time Reversal Test.
| Commodity | 2016 | 2017 | ||
| Price (Rs.) | Quantity (kg) | Price (Rs.) | Quantity (kg) | |
| Food | 40 | 12 | 65 | 14 |
| Fuel | 72 | 14 | 78 | 20 |
| Clothing | 36 | 10 | 36 | 15 |
| Wheat | 20 | 6 | 42 | 4 |
| Others | 46 | 8 | 52 | 6 |
Construct the cost of living Index number for 2015 on the basis of 2012 from the following data using family budget method.
| Commodity | Price | Weights | |
| 2012 | 2015 | ||
| Rice | 250 | 280 | 10 |
| Wheat | 70 | 85 | 5 |
| Corn | 150 | 170 | 6 |
| Oil | 25 | 35 | 4 |
| Dhal | 85 | 90 | 3 |
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Another name of consumer’s price index number is:
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Cost of living at two different cities can be compared with the help of
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Most commonly used index number is:
Find the odd word out:
Features of Index Number:
