Question

Discuss the general method of constructing an index number & uses of an index number. ​

Answer 1

Answer:

Step-by-step explanation:

While constructing an index number due weightage or importance should be given to the various commodities. ... The weights are determined with reference to the relative amounts of income spent on commodities by consumers. Weights may be given in terms of value or quantity.

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Answer 2

Answer:

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Step-by-step explanation:

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While constructing an index number due weightage or importance should be given to the various commodities. ... The weights are determined with reference to the relative amounts of income spent on commodities by consumers. Weights may be given in terms of value or quantity.