Economy, asked by luraghwendra1561, 2 months ago

How are ""Consumer’s Price Index-Numbers"" are constructed? Describe the various steps with illustrations.

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Answered by nasreen77
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Answer:

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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