Mihir calculated the index number by compilation data on total production on rice, wheat, tea, coffee etc. for year 2015 and 2019.
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1. It is example of Quantity index number
2. It measures changes in level of output or physical volume of production in economy.
3. For ex. changes in agricultural production, industrial production etc. over a period of time.
4. Specifically the above ex. comes under index of agricultural production. It measures production over a period of time of agricultural products.
5. As mentioned in above example, a list of various agricultural crops like rice , wheat , tea, coffee etc. is prepared and changes in production of these crops over a period of time is measured by Quantity index number ( Agricultural production index number )
2. It measures changes in level of output or physical volume of production in economy.
3. For ex. changes in agricultural production, industrial production etc. over a period of time.
4. Specifically the above ex. comes under index of agricultural production. It measures production over a period of time of agricultural products.
5. As mentioned in above example, a list of various agricultural crops like rice , wheat , tea, coffee etc. is prepared and changes in production of these crops over a period of time is measured by Quantity index number ( Agricultural production index number )
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