Question

3. Laspeyre’s index is based on(a) Base year quantity (b) Current year quantity

(c) Both of them (d) Average of current and base​

Answer 1

Answer:

a; is the correct answer

Answer 2

Answer:

The answer is (a) Base year quantity

Explanation:

Laspeyre's method uses base year's portions as weights, Paasche's method makes use of cutting-edge yr's portions as weights and Fisher's technique uses both base yr in addition to modern yr's portions as base.

A Laspeyres index wide variety is a form of index wide variety wherein charges, portions or different gadgets of measure over the years are weighted in step with their values in a specified base duration.

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