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प्रश्न
Define Index Number
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उत्तर
Index Numbers are the indicators which reflect the changes over a specified period of time in price of different commodities, production, sales, cost of living etc.
“An Index Number is a device which shows by its variations the change in a magnitude which is not capable of accurate measurements in itself or of direct valuation in practice”. – Wheldon
“An Index number is a statistical measure of fluctuations in a variable arranged in the form of a series and using a base. Period for maxing H comparisons” – Lawrence J Kalpan.
APPEARS IN
संबंधित प्रश्न
______ : Base year prices :: P1 : Current year prices.
Complete the Correlation:
__________ : Single variable :: Composite index : Group of variables
Features of index numbers:
- It is useful in framing suitable economic policies.
- It is useful to present financial data in real terms
- Index numbers are statistical devices.
- Index numbers are specialized averages.
Index number was originally developed to measure ______.
Define family budget method
Choose the correct alternative:
Another name of consumer’s price index number is:
An Enquiry was made into the budgets of the middle class families in a city gave the following information.
| Expenditure | Food | Rent | Clothing | Fuel | Rice |
| Price(2010) | 150 | 50 | 100 | 20 | 60 |
| Price(2011) | 174 | 60 | 125 | 25 | 90 |
| Weights | 35 | 15 | 20 | 10 | 20 |
What changes in the cost of living have taken place in the middle class families of a city?
Assertion and reasoning question:
- Assertion (A): The index number considers all factors.
- Reasoning (R): The index number is based on samples.
Read the given passage and answer the questions:
|
Index Number is a technique of measuring changes in a variable or group of related variables with reference to time, geographical location and other characteristics. Index Number is very useful for economists, farmers, traders, government, educationalists and trade union leaders for planning and implementing the plans according to their sector. The scope of index number is not limited to only one subject but it extends to many subjects such as Economics, Educational science, Psychology, History, Sociology, Geography etc. While framing index number its objective must be determined. To attain the objective the information is collected in various ways and this information is used for comparing two different time periods. For this purpose, the base year’s index is assumed as 100 and accordingly the value of the current year is calculated. Laspeyre, Paasche and Fisher have suggested different methods for constructing index numbers. |
- Explain the meaning of Index Number.
- To whom the Index Number is useful?
- Express your opinion about the given passage.
The base year's index of a selected variable is assumed as ______.
