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प्रश्न
State the uses of Index Number
उत्तर
The uses of Index number are as given below:
(1) Index number is an important tool for formulating decision and management p policies.
(2) It helps in studying the trends and tendencies.
(3) It determines the inflation and deflation in an Economy.
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संबंधित प्रश्न
Index numbers that measure changes in the level of output or physical volume of production in the economy −
Identify & explain the concept from the given illustration.
Bombay Stock Exchange has developed “Sensex” as a stock market index for reflecting the share prices of listed companies.
Define Index Number
Define Laspeyre’s price index number
Define family budget method
State the uses of cost of Living Index Number
Using Fisher’s Ideal Formula, compute price index number for 1999 with 1996 as base year, given the following:
| Year | Commodity: A | Commodity: B | Commodity: C | |||
| Price (Rs.) | Quantity (kg) | Price (Rs.) | Quantity (kg) | Price (Rs.) | Quantity (kg) | |
| 1996 | 5 | 10 | 8 | 6 | 6 | 3 |
| 1999 | 4 | 12 | 7 | 7 | 5 | 4 |
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 |
The following are the group index numbers and the group weights of an average working class family’s budget. Construct the cost of living index number:
| Groups | Food | Fuel and Lighting |
Clothing | Rent | Miscellaneous |
| Index Number | 2450 | 1240 | 3250 | 3750 | 4190 |
| Weight | 48 | 20 | 12 | 15 | 10 |
Assertion and reasoning question:
- Assertion (A): The index number considers all factors.
- Reasoning (R): The index number is based on samples.
