Important uses of index number
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In Measuring Changes in the Value of Money: ADVERTISEMENTS: ...In Cost of Living: ...In Analysing Markets for Goods and Services: ...In Measuring Changes in Industrial Production: ...In Internal Trade: ...In External Trade: ...In Economic Policies: .
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An index number is a statistical measure designed to show changes in a variable or group of related variables with reference to time, geographical location, and other characteristics such as income, profession, etc. Index numbers are indispensable tools of economic analysis.
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