Question

laspeyres index is based on​

Answer 1

Answer:

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Explanation:

The Laspeyres Index is calculated by working out the cost of a group of commodities at current prices, dividing this by the cost of the same group of commodities at base period prices, and then multiplying by 100. This means that the base period index number is always 100.

More to know :-

• What is laspeyres index?

=> The Laspeyres price index is an index formula used in price statistics for measuring the price development of the basket of goods and services consumed in the base period. The question it answers is how much a basket that consumers bought in the base period would cost in the current period.

• What does a laspeyres index of 100 mean?

=> This means that the base period index number is always 100. Periods with higher prices have index numbers greater than 100. Price indexes have many uses. Those covering a large range of goods and services can be used to measure changes in a country's cost of living.

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