PPT - Index Numbers Commerce Notes | EduRev

Economics Class 11

Created by: Pj Commerce Academy

Commerce : PPT - Index Numbers Commerce Notes | EduRev

 Page 2


 
 
Introduction Involved in the construction of Index 
Numbers 
Construction of Index number 
Methods of Index Numbers 
Usefulness of Index Numbers  
Page 3


 
 
Introduction Involved in the construction of Index 
Numbers 
Construction of Index number 
Methods of Index Numbers 
Usefulness of Index Numbers  
An index number is a ratio or an average of 
ratios expressed as a percentage two or more 
time periods are involved, one of which is base 
time period. 
The value of the base time period serves as the 
standard point of composition 
Page 4


 
 
Introduction Involved in the construction of Index 
Numbers 
Construction of Index number 
Methods of Index Numbers 
Usefulness of Index Numbers  
An index number is a ratio or an average of 
ratios expressed as a percentage two or more 
time periods are involved, one of which is base 
time period. 
The value of the base time period serves as the 
standard point of composition 
Selection of data  
Selection of a Base Year 
Type of Formula 
Selection of Weights 
The Data for Index Numbers 
Choice of Variables 
Page 5


 
 
Introduction Involved in the construction of Index 
Numbers 
Construction of Index number 
Methods of Index Numbers 
Usefulness of Index Numbers  
An index number is a ratio or an average of 
ratios expressed as a percentage two or more 
time periods are involved, one of which is base 
time period. 
The value of the base time period serves as the 
standard point of composition 
Selection of data  
Selection of a Base Year 
Type of Formula 
Selection of Weights 
The Data for Index Numbers 
Choice of Variables 
1 
• Specialized Averages  
2 
• Measure the net change in a group 
of related variables 
3 
• Measures the effect of changes 
over a period of time 
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