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Index Numbers — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsIndex Numbers1 Mark
Question
What is the main difference between Simple Index Number and Weighted Index Number?
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Answer

The main difference between Simple Index Number and the Weighted Index Number is that in Simple Index Number all items are treated as having equal importance or weight; whereas in case of Weighted Index Number the relative importance of items is taken care of.

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