Question
Price Index and Quantity Index.
| Price Index Number | Quantity Index Number |
| (a) Price index number measures the changes in price over a period of time. | (a) Quantity index number measures the changes in quantity over a period of time. |
| (b) It can be used for measuring the changes in prices as well as other purpose e.g. in fixing wages, interest rates, tax rates, etc. | (b) It can be used only for measuring the changes in the quantities e.g. of items like exports, imports, etc. |
| (c) It is a very popular concept and can be easily calculated and understood. | (c) It is not so popular as it cannot be easily calculated. |
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