Commerce Exam > Commerce Videos > Economics Class 11 > Consumer Price Index
Consumer Price Index Video Lecture | Economics Class 11 - Commerce
|
75 videos|274 docs|46 tests
|
FAQs on Consumer Price Index Video Lecture - Economics Class 11 - Commerce
| 1. What is the Consumer Price Index (CPI)? |  |
Ans. The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. It is used to track inflation and evaluate the purchasing power of consumers' money.
| 2. How is the Consumer Price Index calculated? | |
Ans. The Consumer Price Index is calculated by collecting data on the prices of a wide range of goods and services commonly purchased by urban consumers. These prices are then weighted to reflect the importance or share of each item in the average consumer's expenditure. The weighted prices are then compared to a base period to determine the percentage change in prices.
| 3. What is the significance of the Consumer Price Index? | |
Ans. The Consumer Price Index is significant as it provides a measure of inflation, which is crucial for economic policymaking and monetary policy decisions. It helps to assess the impact of price changes on the cost of living, wage adjustments, and the effectiveness of government policies in controlling inflation.
| 4. How is the Consumer Price Index used in wage negotiations? | |
Ans. The Consumer Price Index is often used as a benchmark in wage negotiations. Labor unions and employers may refer to the CPI to determine the appropriate level of wage increases to maintain the purchasing power of workers. If the CPI indicates high inflation, workers may demand higher wage increases to keep up with rising prices.
| 5. What are the limitations of the Consumer Price Index? | |
Ans. The Consumer Price Index has a few limitations. It may not accurately reflect the inflation experienced by specific demographic groups or regions, as it represents an average for urban consumers. Additionally, the CPI does not account for changes in quality or the introduction of new products, which can impact consumer purchasing decisions. Finally, the CPI may not fully capture changes in housing costs, leading to potential distortions in the overall inflation measurement.
About this Video
|
4.75/5 Rating |
|
Nov 03, 2024 Last updated |
Video Description: Consumer Price Index for Commerce 2024 is part of Economics Class 11 preparation.
The notes and questions for Consumer Price Index have been prepared according to the Commerce exam syllabus.
Information about Consumer Price Index covers all important topics for Commerce 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Consumer Price Index.
Introduction of Consumer Price Index in English is available as part of our Economics Class 11 for Commerce & Consumer Price Index in
Hindi for Economics Class 11 course. Download more important topics related with notes, lectures and mock test series for
Commerce Exam by signing up for free.
Description
Video Lecture & Questions for Consumer Price Index Video Lecture | Economics Class 11 - Commerce - Commerce full syllabus preparation | Free video for Commerce exam to prepare for Economics Class 11.
Information about Consumer Price Index
Here you can find the meaning of Consumer Price Index defined & explained in the simplest way possible.
Besides explaining types of Consumer Price Index theory, EduRev gives you an ample number of questions to practice Consumer Price Index tests,
examples and also practice Commerce tests.
|
75 videos|274 docs|46 tests
|
Video Timeline
|
Explore Courses for Commerce exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
practice quizzes
,past year papers
,Objective type Questions
,Consumer Price Index Video Lecture | Economics Class 11 - Commerce
,video lectures
,ppt
,Consumer Price Index Video Lecture | Economics Class 11 - Commerce
,Sample Paper
,mock tests for examination
,study material
,shortcuts and tricks
,Viva Questions
,MCQs
,Previous Year Questions with Solutions
,Consumer Price Index Video Lecture | Economics Class 11 - Commerce
,Extra Questions
,Semester Notes
,Free
,Summary
,Exam
,Important questions
;
Study Consumer Price Index on the App
Students of Commerce can study Consumer Price Index alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Consumer Price Index,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Consumer Price Index is prepared as per the latest Commerce syllabus.
|
© 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