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Index Numbers — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsIndex Numbers3 Marks
Question
"Index numbers measures the changes in the variables under study.” Name some of the variables in which the changes are studied.
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Answer

Some of the variables in which changes are studied with the help of index numbers are:
  1. Prices of commodities like wheat, gold, steel, consumer goods, cereals, etc.
  2. Volume of trade, factory production, industrial and agriculture production, exports or imports, prices of stocks or shares, sales and profits of a firm, etc.
  3. National income of a country, wage structure of workers in various sectors, cost of living of persons of a particular community, class or profession, etc.

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