explain the main characterstic of index number
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- Meaning and Characteristics of Index Numbers. An index number is a method of evaluating variations in a variable or group of variables in regards to the geographical location, time, and other features. The base value of the index number is usually 100 and indicates either to price, date, a level of production, etc.
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Characteristics of index numbers: Index numbers are specialised averages. Index numbers measure the change in the level of a phenomenon. Index numbers measure the effect of changes over a period of time.
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