Index Amount Pdf For Free

There are broadly three types of index numbers ? price index numbers, value index numbers, and quantity index numbers.

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A consumer price index (CPI) measures changes in the prices of goods and services that households consume. Such changes affect the real purchasing power of con- sumers' incomes and their welfare.

An index number is an economic figure (data) showing a price or quantity compared with a base value. The base or standard usually equals 100 while the index number is generally expressed as 100 times the ratio to the base value.

We mentioned two index numbers that are used in the real world. The first is the Dow Jones Industrial Average, a stock index that measures how well companies in the United States are doing. The second, the Consumer Price Index, is a cost of goods index that measures how prices have changed over the years.

An index number is a statistical tool used in economics and business to quantify changes in an individual variable or a group of variables concerning geographical locations, time, or other aspects. The primary objective of this statistical measure is to simplify complex comparisons.

Index numbers measure a net or relative change in a variable or a group of variables. For example, if the price of a certain commodity rises from ?10 in the year 2007 to ?15 in the year 2017, the price index number will be 150 showing that there is a 50% increase in the prices over this period.