Chapters
Chapter 2: Utility Analysis
Chapter 3.1: Demand Analysis
Chapter 3.2: Elasticity of Demand
Chapter 4: Supply Analysis
Chapter 5: Forms of Market
Chapter 6: Index Numbers
Chapter 7: National Income
Chapter 8: Public Finance in India
Chapter 9: Money Market and Capital Market in India
Chapter 10: Foreign Trade of India
Chapter 6: Index Numbers
Balbharati solutions for Economics 12th Standard HSC Maharashtra State Board Chapter 6 Index Numbers Exercise [Pages 59 - 60]
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
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
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
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
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
Complete the Correlation:
Price Index : Inflation :: __________ : Agricultural production
Complete the Correlation:
______ : Base year prices :: P1 : Current year prices
Complete the Correlation:
Laaspeyre's index : _________ :: Paasche's index : Current year quantities
Complete the Correlation:
__________ : Single variable :: Composite index : Group of variables
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 |
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 |
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 |
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 |
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 |
Distinguish between Simple Index Numbers and Weighted Index Numbers.
Distinguish between Price Index and Quantity Index.
Distinguish between Laaspeyre's Index and Paasche's Index.
State with reason whether you agree or disagree with the following statement:
Index numbers measure changes in the price level only.
Agree
Disagree
State with reason whether you agree or disagree with the following statement:
Index numbers are free from limitations.
Agree
Disagree
State with reason whether you agree or disagree with the following statement:
Index numbers can be constructed without the base year.
Agree
Disagree
Explain the features of index numbers.
Explain the significance of index numbers in economics.
Explain the steps involved in the construction of index numbers.
Chapter 6: Index Numbers
Balbharati solutions for Economics 12th Standard HSC Maharashtra State Board chapter 6 - Index Numbers
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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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