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Question
Identify and explain the concept from the given illustration:
Pooja collected information regarding a change in the quantity of imports of India from 2019 to 2020 and prepared an index number.
Short Note
Solution
- Identified concept: Special purpose index number.
- Explanation of concept: A special purpose index number is a form of index number that is built with a specific purpose in mind. It measures the changes in specific economic factors throughout time.
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