Index Numbers — Economics STD 11 Commerce — Question
CBSE BoardEnglish MediumSTD 11 CommerceEconomicsIndex Numbers1 Mark
Question
What do you mean by index numbers? OR
Define an index number.
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Answer
An index number is a statistical device for measuring relative change in a group of related variables over different time period. Price index numbers are more commonly used. They measure relative change in prices over different time period.
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