Maharashtra State BoardHSC Commerce 12th Board Exam
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Balbharati solutions for Economics 12th Standard HSC Maharashtra State Board chapter 6 - Index Numbers [Latest edition]

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Economics 12th Standard HSC Maharashtra State Board - Shaalaa.com

Chapter 6: Index Numbers

Exercise
Exercise [Pages 59 - 60]

Balbharati solutions for Economics 12th Standard HSC Maharashtra State Board Chapter 6 Index Numbers Exercise [Pages 59 - 60]

Exercise | Q 1. (1) | Page 59

Choose the correct option:

Statements that are incorrect in relation to index numbers.

a) Index number is a geographical tool.

b) Index numbers measure changes in the air pressure.

c) Index numbers measure relative changes in an economic variable.

d) Index numbers are specialized averages.

  • c and d

  • a and b 

  • b and c

  • a and d

Exercise | Q 1. (2) | Page 59

Choose the correct option:

Statements that highlight the significance of index numbers.

a) Index numbers are useful for making future predictions.

b) Index numbers help in the measurement of inflation.

c) Index numbers help to frame suitable policies.

d) Index numbers can be misused.

  • b, c and d

  • a, c and d

  • a, b and d

  • a, b and c

Exercise | Q 1. (3) | Page 59

Choose the correct option:

Statements that apply to weighted index numbers.

a) Every commodity is given equal importance.

b) It assigns suitable 'weights' to various commodities.

c) In most of the cases, quantities are used as weights.

d) Laaspeyre's and Paasche's method is used in the calculation of weighted index numbers.

  • b, c and d

  • a, c and d

  • a, b and d

  • a, b, c and d

Exercise | Q 1. (4) | Page 59

Choose the correct option:

Statements related to limitations of index numbers.

a) Index numbers are not completely reliable.

b) There may be a bias in the data collected.

c) Every formula has some kind of defect.

d) Index numbers ignore changes in the qualities of products.

  • a, c and d

  • a, b, c and d

  • a, b and d

  • b, c and d

Exercise | Q 1. (5) | Page 59

Choose the correct pair:

Group A Group B
1) Price Index a) `(∑"p"_1"q"_1)/(∑"p"_0"q"_0)xx100`
2) Value Index b) `(∑"q"_1)/(∑"q"_0)xx100`
3) Quantity Index c) `(∑"p"_1"q"_1)/(∑"p"_0"q"_1)xx100`
4) Paasche's Index d) `(∑"p"_1)/(∑"p"_0)xx100`
  • 1-d, 2-c, 3-a, 4-b

  • 1-d, 2-a, 3-b, 4-c

  • 1-b, 2-c, 3-d, 4-a

  • 1-c, 2-d, 3-a, 4-b

Exercise | Q 2. (1) | Page 60

Complete the Correlation:

Price Index : Inflation :: __________ : Agricultural production

Exercise | Q 2. (2) | Page 60

Complete the Correlation:

______ : Base year prices :: P1 : Current year prices

Exercise | Q 2. (3) | Page 60

Complete the Correlation:

Laaspeyre's index : _________ :: Paasche's index : Current year quantities

Exercise | Q 2. (4) | Page 60

Complete the Correlation:

__________ : Single variable :: Composite index : Group of variables

Exercise | Q 3. (1) | Page 60

Solve the following:

Calculate Price Index number from the given data:

Commodity A B C D
Price in 2005 (₹) 6 16 24 4
Price in 2010 (₹) 8 18 28 6
Exercise | Q 3. (2) | Page 60

Solve the following:

Calculate Quantity Index number from the given data:

Commodity P Q R S T
Base year quantities 170 150 100 195 205
Current year quantities 90 70 75 150 95
Exercise | Q 3. (3) | Page 60

Solve the following:

Calculate Value Index number from the given data:

Commodity Base year Current year
Price Quantity Price Quantity
A 40 15 70 20
B 10 12 60 22
C 50 10 90 18
D 20 14 100 16
E 30 13 40 15
Exercise | Q 3. (4) | Page 60

Solve the following:

Calculate Laaspeyre's index from the given data:

Commodity Base year current year
Price Quantity Price Quantity
X 8 30 12 25
Y 10 42 20 16
Exercise | Q 3. (4) | Page 60

Solve the following:

Calculate Paasche's index from the given data:

Commodity Base year current year
Price Quantity Price Quantity
X 8 30 12 25
Y 10 42 20 16
Exercise | Q 4. (1) | Page 60

Distinguish between Simple Index Numbers and Weighted Index Numbers.

Exercise | Q 4. (2) | Page 60

Distinguish between Price Index and Quantity Index.

Exercise | Q 4. (3) | Page 60

Distinguish between Laaspeyre's Index and Paasche's Index.

Exercise | Q 5. (1) | Page 60

State with reason whether you agree or disagree with the following statement:

Index numbers measure changes in the price level only.

  • Agree

  • Disagree

Exercise | Q 5. (2) | Page 60

State with reason whether you agree or disagree with the following statement:

Index numbers are free from limitations.

  • Agree

  • Disagree

Exercise | Q 5. (3) | Page 60

State with reason whether you agree or disagree with the following statement:

Index numbers can be constructed without the base year.

  • Agree

  • Disagree

Exercise | Q 6. (1) | Page 60

Explain the features of index numbers.

Exercise | Q 6. (2) | Page 60

Explain the significance of index numbers in economics.

Exercise | Q 7. (1) | Page 60

Explain the steps involved in the construction of index numbers.

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Chapter 6: Index Numbers

Exercise
Economics 12th Standard HSC Maharashtra State Board - Shaalaa.com

Balbharati solutions for Economics 12th Standard HSC Maharashtra State Board chapter 6 - Index Numbers

Balbharati solutions for Economics 12th Standard HSC Maharashtra State Board chapter 6 (Index Numbers) include all questions with solution and detail explanation. This will clear students doubts about any question and improve application skills while preparing for board exams. The detailed, step-by-step solutions will help you understand the concepts better and clear your confusions, if any. Shaalaa.com has the Maharashtra State Board Economics 12th Standard HSC Maharashtra State Board solutions in a manner that help students grasp basic concepts better and faster.

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Concepts covered in Economics 12th Standard HSC Maharashtra State Board chapter 6 Index Numbers are Index Numbers, Significance of Index Numbers in Economics, Construction of Index Numbers, Limitations of Index Numbers.

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