All Courses
Get the App Signup / Login
Sign in Open App
Commerce Exam  >  Commerce Tests  >  Economics Class 11  >  Test: Index Numbers - 1 - Commerce MCQ

Test: Index Numbers - 1 - Commerce MCQ


Test Description

10 Questions MCQ Test Economics Class 11 - Test: Index Numbers - 1

Test: Index Numbers - 1 for Commerce 2024 is part of Economics Class 11 preparation. The Test: Index Numbers - 1 questions and answers have been prepared according to the Commerce exam syllabus.The Test: Index Numbers - 1 MCQs are made for Commerce 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Index Numbers - 1 below.
Solutions of Test: Index Numbers - 1 questions in English are available as part of our Economics Class 11 for Commerce & Test: Index Numbers - 1 solutions in Hindi for Economics Class 11 course. Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free. Attempt Test: Index Numbers - 1 | 10 questions in 10 minutes | Mock test for Commerce preparation | Free important questions MCQ to study Economics Class 11 for Commerce Exam | Download free PDF with solutions
Test: Index Numbers - 1 - Question 1
Save

The index number that does not have any reference consumer category is

Detailed Solution for Test: Index Numbers - 1 - Question 1

The wholesale price index number indicates the change in the general price level.

Test: Index Numbers - 1 - Question 2
Save

IIP i.e. industrial index of production includes

Detailed Solution for Test: Index Numbers - 1 - Question 2

IIP measures the changes in the level of industrial production comprising many industries.

1 Crore+ students have signed up on EduRev. Have you? Download the App
Test: Index Numbers - 1 - Question 3
Save

The number of CPI constructed in India is

Detailed Solution for Test: Index Numbers - 1 - Question 3

Consumer price index is also known as cost of living index. In India three types of Index numbers are constructed. They are as follows:

  1. CPI for industrial worker
  2. CPI for agricultural worker
  3. CPI for urban non-manual labourers
Test: Index Numbers - 1 - Question 4
Save

If the CPI (2000 = 100), is 234 in January 2012, the equivalent of a rupee in January, 2012 is
Detailed Solution for Test: Index Numbers - 1 - Question 4

If the CPI (2000 = 100), is 234 in January 2012, the equivalent of a rupee in January, 2012 is 0.427. It means that 1 rupee or 100 paisa is worth of 42 paisa in 2000.

Test: Index Numbers - 1 - Question 5
Save

Which of the following is/are an example/s of weighted price index?
(a) Consumer price index
(b) Wholesale price index
(c) Sensex
Detailed Solution for Test: Index Numbers - 1 - Question 5

The following are examples of weighted price index:
(a) Consumer price index
(b) Wholesale price index
(c) Sensex

Test: Index Numbers - 1 - Question 6
Save

To calculate purchasing power of money and real wages we use
Detailed Solution for Test: Index Numbers - 1 - Question 6

Consumer price index number or cost of living index helps in measuring the changes in the purchasing power of money and real income.

Test: Index Numbers - 1 - Question 7
Save

The value of sensex is with reference to the year
Detailed Solution for Test: Index Numbers - 1 - Question 7

SENSEX is the short form of Bombay Stock Exchange Sensitive Index with 1978-79 base. It consists of 13 stocks which represent 13 sectors of the economy.

Test: Index Numbers - 1 - Question 8
Save

Commodities are broadly classified into three categories namely primary articles, fuel, power, light and lubricants and manufactured products to calculate
Detailed Solution for Test: Index Numbers - 1 - Question 8

Wholesale price index measures the changes in the general price level.

Test: Index Numbers - 1 - Question 9
Save

The price at which the commodity is sold in huge quantity is called
Detailed Solution for Test: Index Numbers - 1 - Question 9

Wholesale price is different to retail price. The index number which measures the general price level in the wholesale price is called Wholesale Price Index (WPI).

Test: Index Numbers - 1 - Question 10
Save

Which of the following is correct with regard to the weighted price index?
(a) Weights are determined by the proportion of expenditure made on them in total expenditure during the base period.
(b) Current period weights are preferred over base year weight.
Detailed Solution for Test: Index Numbers - 1 - Question 10

Base period weights are preferred over current year weight. It is because calculating the weight every year is inconvenient.

75 videos|269 docs|46 tests
Join Course
Information about Test: Index Numbers - 1 Page
In this test you can find the Exam questions for Test: Index Numbers - 1 solved & explained in the simplest way possible. Besides giving Questions and answers for Test: Index Numbers - 1, EduRev gives you an ample number of Online tests for practice

Top Courses for Commerce

75 videos|269 docs|46 tests
Join Course
Download as PDF

Top Courses for Commerce

Important Questions for Index Numbers - 1

Find all the important questions for Index Numbers - 1 at EduRev.Get fully prepared for Index Numbers - 1 with EduRev's comprehensive question bank and test resources. Our platform offers a diverse range of question papers covering various topics within the Index Numbers - 1 syllabus. Whether you need to review specific subjects or assess your overall readiness, EduRev has you covered. The questions are designed to challenge you and help you gain confidence in tackling the actual exam. Maximize your chances of success by utilizing EduRev's extensive collection of Index Numbers - 1 resources.

Index Numbers - 1 MCQs with Answers

Prepare for the Index Numbers - 1 within the Commerce exam with comprehensive MCQs and answers at EduRev. Our platform offers a wide range of practice papers, question papers, and mock tests to familiarize you with the exam pattern and syllabus. Access the best books, study materials, and notes curated by toppers to enhance your preparation. Stay updated with the exam date and receive expert preparation tips and paper analysis. Visit EduRev's official website today and access a wealth of videos and coaching resources to excel in your exam.

Online Tests for Index Numbers - 1 Economics Class 11

Practice with a wide array of question papers that follow the exam pattern and syllabus. Our platform offers a user-friendly interface, allowing you to track your progress and identify areas for improvement. Access detailed solutions and explanations for each test to enhance your understanding of concepts. With EduRev's Online Tests, you can build confidence, boost your performance, and ace Index Numbers - 1 with ease. Join thousands of successful students who have benefited from our trusted online resources.
© EduRev
Education Revolution
Follow Us
Signup to see your scores go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup