Question

Statements that are incorrect in relation to index numbers -

1. Index number is a geographical tool.
2. Index numbers measure changes in the air pressure.
3. Index numbers measure relative changes in economic variable.
4. Index numbers are specialized averages.

Options

• c, d

• a, b

• b, c

• a, b, c, d

Answer 1

a, b

Explanation:

Index numbers are statistical tools used to measure relative changes in economic variables like price, quantity, or value over time.
They are specialized averages, so (c) and (d) are correct statements.
They are not geographical tools and do not measure air pressure, so (a) and (b) are incorrect.