Advertisements
Online Mock Tests
Chapters
![SCERT Maharashtra solutions for Economics [English] 12 Standard HSC chapter 6 - Index Numbers - Shaalaa.com](/images/economics-english-12-standard-hsc_6:5f2b1b2038084cf381bfa42c826a928c.jpg "SCERT Maharashtra solutions for Economics [English] 12 Standard HSC chapter 6 - Index Numbers")
Advertisements
Solutions for Chapter 6: Index Numbers
Below listed, you can find solutions for Chapter 6 of Maharashtra State Board SCERT Maharashtra for Economics [English] 12 Standard HSC.
SCERT Maharashtra solutions for Economics [English] 12 Standard HSC 6 Index Numbers Choose the correct option
Choose the correct option
Features of index numbers:
- It is useful in framing suitable economic policies.
- It is useful to present financial data in real terms
- Index numbers are statistical devices.
- Index numbers are specialized averages.
c, d
a, b
b, c, d
a, b, c, d
Statements related to weighted index number:
- Suitable weights are assigned to various commodities.
- It gives relative importance to the commodity in the group.
- In most cases, quantities are used as weights.
- Laaspeyre’s Price index and Paasche’s Price Index are methods of constructing weighted index number.
a, c, d
a, b, c
b, c, d
a, b, c, d
SCERT Maharashtra solutions for Economics [English] 12 Standard HSC 6 Index Numbers Complete the correlation
Complete the correlation
______ : Base year prices :: P1 : Current year prices
Laaspeyre's index : _________ :: Paasche's index : Current year quantities
SCERT Maharashtra solutions for Economics [English] 12 Standard HSC 6 Index Numbers Give economic terms
Give economic terms
Index numbers that measure changes in the level of output or physical volume of production in the economy −
Device that measures changes in an economic variable or a group of variables over a period of time –
SCERT Maharashtra solutions for Economics [English] 12 Standard HSC 6 Index Numbers Find the odd word
Find the odd word
Types of index numbers -
Price index
Quantity index
Simple index
Value index
Find the odd word
Steps involved in the construction of index number -
Selection of commodities
Selection of base year
Selection of cost
Selection of items
Selection of price quotation
SCERT Maharashtra solutions for Economics [English] 12 Standard HSC 6 Index Numbers Complete the following statements
Complete the following statements
Index number was originally developed to measure ______.
changes in quantity level
changes in price level
changes in agricultural production
changes in industrial production
Index number which is computed from a single variable called is a ______.
composite index
double variate index
univariate index
multivariate index
SCERT Maharashtra solutions for Economics [English] 12 Standard HSC 6 Index Numbers Assertion and Reasoning type questions
Assertion and Reasoning type questions
Assertion (A): Index numbers are statistical devices.
Reasoning (R): Index numbers measure only changes in the price level over a period of time.
(A) is True but (R) is False.
(A) is False but (R) is True.
Both (A) and (R) are True and (R) is the correct explanation of (A).
Both (A) and (R) are True and (R) is not the correct explanation of (A).
Assertion (A): Generally, arithmetic mean is used in the construction of index numbers.
Reasoning (R): Arithmetic mean is simple to compute compared to other averages.
(A) is True but (R) is False.
(A) is False but (R) is True.
Both (A) and (R) are True and (R) is the correct explanation of (A).
Both (A) and (R) are True and (R) is not the correct explanation of (A).
SCERT Maharashtra solutions for Economics [English] 12 Standard HSC 6 Index Numbers Identify & explain the concepts from the given illustrations
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.
Identify & explain the concept from the given illustration.
Agricultural Research Institute constructed an index number to measure changes in the production of raw cotton in Maharashtra during the period 2015-2020.
SCERT Maharashtra solutions for Economics [English] 12 Standard HSC 6 Index Numbers Distinguish Between
Distinguish between:
Simple Index Numbers and Weighted Index Numbers.
Distinguish between:
Price Index and Quantity Index.
SCERT Maharashtra solutions for Economics [English] 12 Standard HSC 6 Index Numbers Answer the following
Answer the following
Explain the types of index numbers.
Construct Quantity index number from the given data:
| Commodity | A | B | C | D | E |
| Base year quantities | 170 | 150 | 100 | 195 | 205 |
| Current year quantities | 90 | 70 | 75 | 150 | 95 |
SCERT Maharashtra solutions for Economics [English] 12 Standard HSC 6 Index Numbers State with reasons whether you agree or disagree with the following statements
State with reason whether you agree or disagree with the following statement:
Index numbers measure changes in the price level only.
State with reason whether you agree or disagree with the following statement:
Any year can be selected as the base year
SCERT Maharashtra solutions for Economics [English] 12 Standard HSC 6 Index Numbers TABLES
4 MARKS EACH CORRECT ANSWER
Study the following table, figure, passage and answer the question given below it.
| Commodities | Price in 2015 in Rs (base year) P0 |
Price in 2019 in Rs. (current year) P1 |
| L | 20 | 30 |
| M | 60 | 80 |
| N | 100 | 130 |
| O | 40 | 60 |
| Total | ∑P0 = ? | ∑P1 = ? |
- Complete the above table (1m)
- Construct Price Index number from the above data (3m)
SCERT Maharashtra solutions for Economics [English] 12 Standard HSC 6 Index Numbers Answer in detail
Answer in detail
Explain the steps involved in the construction of index numbers.
Solutions for 6: Index Numbers
SCERT Maharashtra solutions for Economics [English] 12 Standard HSC chapter 6 - Index Numbers
Shaalaa.com has the Maharashtra State Board Mathematics Economics [English] 12 Standard HSC Maharashtra State Board solutions in a manner that help students grasp basic concepts better and faster. The detailed, step-by-step solutions will help you understand the concepts better and clarify any confusion. SCERT Maharashtra solutions for Mathematics Economics [English] 12 Standard HSC Maharashtra State Board 6 (Index Numbers) include all questions with answers and detailed explanations. This will clear students' doubts about questions and improve their application skills while preparing for board exams.
Further, we at Shaalaa.com provide such solutions so students can prepare for written exams. SCERT Maharashtra textbook solutions can be a core help for self-study and provide excellent self-help guidance for students.
Concepts covered in Economics [English] 12 Standard HSC chapter 6 Index Numbers are Index Numbers, Significance of Index Numbers in Economics, Construction of Index Numbers, Limitations of Index Numbers, Methods of Constructing Index Numbers, Types of Index Numbers.
Using SCERT Maharashtra Economics [English] 12 Standard HSC solutions Index Numbers exercise by students is an easy way to prepare for the exams, as they involve solutions arranged chapter-wise and also page-wise. The questions involved in SCERT Maharashtra Solutions are essential questions that can be asked in the final exam. Maximum Maharashtra State Board Economics [English] 12 Standard HSC students prefer SCERT Maharashtra Textbook Solutions to score more in exams.
Get the free view of Chapter 6, Index Numbers Economics [English] 12 Standard HSC additional questions for Mathematics Economics [English] 12 Standard HSC Maharashtra State Board, and you can use Shaalaa.com to keep it handy for your exam preparation.
