Balbharati solutions for Economics HSC 12th Standard Maharashtra State Board
Chapter 6. INDEX NUMBERS
Q.6. Answer the following:
1. Explain the features of index numbers.
Following are the various feature of index number:
Measures of relative changes: Index number measures relative or percentage changes in the variable over time.
Quantitative expression: Index numbers offer a precise measurement of the quantitative change in the concerned variable over time.
Average: Index numbers show changes in terms of average.