Question

One of the following is
not required in calculation
of simple index number
1.Weights
2.Base year
3.basket of commodities
4.prices of goods​

Answer 1

ANSWER-

4. PRICES OF GOODS..

PLEASE MARK ME BRAINLIST ✌️..

Answer 2

Option 1 is the correct answer.

Weights are not required in the calculation of simple index number.

1. Index number is used to measure changes in the general price level on several parameters such as time, geographical location etc.
2. As the name suggests, it is simple or unweighted. Simple index number does not have weights.
3. All the commodities are given equal importance in this index.
4. It is measured by :

$P_{01}$= ∑P1 /∑P0*100 (simple aggregate method)

where, ∑P1 = total of the prices of commodities in given year.

∑P0 = total of the prices of commodities in next year.

OR

$P_{01}$ = ∑(P1/P0)/N*100 (simple average of price relative method)