Commerce Exam > Commerce Videos > Economics Class 12 > What is Wholesale Price Index?
What is Wholesale Price Index? Video Lecture | Economics Class 12 - Commerce
|
86 videos|334 docs|54 tests
|
FAQs on What is Wholesale Price Index? Video Lecture - Economics Class 12 - Commerce
| 1. What is Wholesale Price Index (WPI)? |  |
Ans. The Wholesale Price Index (WPI) is an economic indicator that measures the average change in the prices of goods sold in bulk by wholesale businesses. It is used to track inflation and price movements in the wholesale market.
| 2. How is the Wholesale Price Index calculated? | |
Ans. The Wholesale Price Index is calculated by taking into account the price changes of a selected basket of goods over a specific period of time. The prices of these goods are collected from wholesale businesses and are given weightage based on their importance in the wholesale market. The WPI is then calculated by dividing the total value of the basket of goods in the current period by the total value in the base period and multiplying it by 100.
| 3. What is the difference between Wholesale Price Index and Consumer Price Index? | |
Ans. The Wholesale Price Index (WPI) measures the average change in the prices of goods sold in bulk by wholesale businesses, while the Consumer Price Index (CPI) measures the average change in the prices of goods and services purchased by consumers. The WPI focuses on the wholesale market, while the CPI reflects the prices paid by consumers. Additionally, the WPI includes goods and services sold to businesses, while the CPI only includes goods and services purchased by households.
| 4. How is the Wholesale Price Index used in economic analysis? | |
Ans. The Wholesale Price Index is widely used in economic analysis for various purposes. It helps in tracking inflation and understanding price movements in the wholesale market. It provides insights into the cost of production for businesses and helps in analyzing the impact of price changes on profitability. Economists and policymakers also use the WPI to monitor the performance of various sectors of the economy and to make informed decisions regarding monetary and fiscal policies.
| 5. What are the limitations of the Wholesale Price Index? | |
Ans. The Wholesale Price Index, like any other economic indicator, has certain limitations. One limitation is that it does not capture the price changes of all goods and services in the economy, as it focuses on wholesale goods only. Additionally, it does not take into account changes in quality and quantity of goods over time. Moreover, the weightage assigned to different goods may not accurately reflect their importance in the economy, leading to potential biases in the index. It is important to consider these limitations when interpreting and using the Wholesale Price Index in economic analysis.
Related Exams
About this Video
|
4.77/5 Rating |
|
Nov 03, 2024 Last updated |
Video Description: What is Wholesale Price Index? for Commerce 2024 is part of Economics Class 12 preparation.
The notes and questions for What is Wholesale Price Index? have been prepared according to the Commerce exam syllabus.
Information about What is Wholesale Price Index? covers all important topics for Commerce 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for What is Wholesale Price Index?.
Introduction of What is Wholesale Price Index? in English is available as part of our Economics Class 12 for Commerce & What is Wholesale Price Index? in
Hindi for Economics Class 12 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 What is Wholesale Price Index? Video Lecture | Economics Class 12 - Commerce - Commerce full syllabus preparation | Free video for Commerce exam to prepare for Economics Class 12.
Information about What is Wholesale Price Index?
Here you can find the meaning of What is Wholesale Price Index? defined & explained in the simplest way possible.
Besides explaining types of What is Wholesale Price Index? theory, EduRev gives you an ample number of questions to practice What is Wholesale Price Index? tests,
examples and also practice Commerce tests.
|
86 videos|334 docs|54 tests
|
|
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
Viva Questions
,study material
,Exam
,Extra Questions
,mock tests for examination
,Previous Year Questions with Solutions
,Semester Notes
,Important questions
,Objective type Questions
,Sample Paper
,MCQs
,shortcuts and tricks
,ppt
,What is Wholesale Price Index? Video Lecture | Economics Class 12 - Commerce
,practice quizzes
,video lectures
,What is Wholesale Price Index? Video Lecture | Economics Class 12 - Commerce
,Summary
,What is Wholesale Price Index? Video Lecture | Economics Class 12 - Commerce
,Free
,past year papers
;
Study What is Wholesale Price Index? on the App
Students of Commerce can study What is Wholesale Price Index? alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the What is Wholesale 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 What is Wholesale 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