CA Foundation Exam > CA Foundation Questions > The ratio of price of single commodity in a g...
Start Learning for Free
The ratio of price of single commodity in a given period to its price in another period is called the
- a)base period
- b)price ratio
- c)relative price
- d)none
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
The ratio of price of single commodity in a given period to its price ...
Ratio of Price of a Single Commodity
The ratio of the price of a single commodity in a given period to its price in another period is known as the relative price. This is a concept that is commonly used in economics to compare the price of a good or service in one period to its price in another period.
Importance of Relative Price
Relative price is important because it provides a way to compare the cost of goods and services over time. By comparing the price of a good or service in one period to its price in another period, economists can determine how the cost of that good or service has changed over time.
For example, if the price of a gallon of milk was $3 in 2010 and $4 in 2020, the relative price of milk in 2020 would be 1.33 ($4 divided by $3). This means that milk is 33% more expensive in 2020 than it was in 2010.
Conclusion
In conclusion, the ratio of the price of a single commodity in a given period to its price in another period is known as the relative price. This is an important concept in economics as it provides a way to compare the cost of goods and services over time.
The ratio of the price of a single commodity in a given period to its price in another period is known as the relative price. This is a concept that is commonly used in economics to compare the price of a good or service in one period to its price in another period.
Importance of Relative Price
Relative price is important because it provides a way to compare the cost of goods and services over time. By comparing the price of a good or service in one period to its price in another period, economists can determine how the cost of that good or service has changed over time.
For example, if the price of a gallon of milk was $3 in 2010 and $4 in 2020, the relative price of milk in 2020 would be 1.33 ($4 divided by $3). This means that milk is 33% more expensive in 2020 than it was in 2010.
Conclusion
In conclusion, the ratio of the price of a single commodity in a given period to its price in another period is known as the relative price. This is an important concept in economics as it provides a way to compare the cost of goods and services over time.
Free Test
FREE
| Start Free Test |
Community Answer
The ratio of price of single commodity in a given period to its price ...
Relative price
|
Explore Courses for CA Foundation exam
|
|
Similar CA Foundation Doubts
Top Courses for CA FoundationView all
The ratio of price of single commodity in a given period to its price in another period is called thea)base periodb)price ratioc)relative priced)noneCorrect answer is option 'C'. Can you explain this answer?
Question Description
The ratio of price of single commodity in a given period to its price in another period is called thea)base periodb)price ratioc)relative priced)noneCorrect answer is option 'C'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The ratio of price of single commodity in a given period to its price in another period is called thea)base periodb)price ratioc)relative priced)noneCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The ratio of price of single commodity in a given period to its price in another period is called thea)base periodb)price ratioc)relative priced)noneCorrect answer is option 'C'. Can you explain this answer?.
The ratio of price of single commodity in a given period to its price in another period is called thea)base periodb)price ratioc)relative priced)noneCorrect answer is option 'C'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The ratio of price of single commodity in a given period to its price in another period is called thea)base periodb)price ratioc)relative priced)noneCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The ratio of price of single commodity in a given period to its price in another period is called thea)base periodb)price ratioc)relative priced)noneCorrect answer is option 'C'. Can you explain this answer?.
Solutions for The ratio of price of single commodity in a given period to its price in another period is called thea)base periodb)price ratioc)relative priced)noneCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of The ratio of price of single commodity in a given period to its price in another period is called thea)base periodb)price ratioc)relative priced)noneCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
The ratio of price of single commodity in a given period to its price in another period is called thea)base periodb)price ratioc)relative priced)noneCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for The ratio of price of single commodity in a given period to its price in another period is called thea)base periodb)price ratioc)relative priced)noneCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of The ratio of price of single commodity in a given period to its price in another period is called thea)base periodb)price ratioc)relative priced)noneCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice The ratio of price of single commodity in a given period to its price in another period is called thea)base periodb)price ratioc)relative priced)noneCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
|
|
Explore Courses for CA Foundation exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup