Question
Simple Index Numbers and Weighted Index Numbers
| Simple Index Number | Weighted Index Number |
| (a) Simple index number is a simple average of index number of individual goods. | (a) Weighted index number is a weighted average of products after assigning suitable weights to individual goods. |
| (b) It is easy to calculate. | (b) It is difficult to calculate. |
| (c) All commodities are given equal importance. | (c) All commodities are given different levels of importance. |
| (d) It gives rough estimates of price change | (d) It gives an accurate estimate of price change. |
| (e) It is less used in practice. | (e) It is mostly used in practice. |
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