Balbharati solutions for Economics HSC 12th Standard Maharashtra State Board

Chapter 6. INDEX NUMBERS WITH SOLUTIONS

Q.1. 1. Choose the correct option

Q.1. 2. Choose the correct pair

Q.3. Solve the following:

1. Calculate Price Index number from the given data

2. Calculate Quantity Index number from the given data

3. Calculate Value Index number from the given data

4. Calculate Laaspeyre's index from the given data

5. Calculate Paasche's index from the given data

Q.4. Distinguish between:

1. Simple Index Numbers and Weighted Index Numbers

2. Price Index and Quantity Index.

3. Laaspeyre's Index and Paasche's Index.

Q.5. State with reason whether you agree or disagree with the following statement:

1. Index numbers measure changes in the price level only.

2. Index numbers are free from limitations.

3. Index numbers can be constructed without the base year.

Q.6. Answer the following:

1. Explain the features of index numbers.

2. Explain the significance of index numbers in economics.

Q.7. Answer in detail:

1. Explain the steps involved in the construction of index numbers.