Question

Selection of ...is an important
factor in the construction of index
numbers.​

Answer 1

Answer:

1. Purpose of the Index Number:

2. Selection of Commodities:

3. Selection of Prices:

4. selection of an average

5. Selection of Weights:

6. selection of base period

7. selection of formula

The selection of the base period is the most important step in the construction of an index number.