Question

THE RATIO OF A SUM OF PRICES ILL CURRENT PERIOD TO THE SUM OF PRICES ILL THE BASE PERIOD EXPRESSED AS A PERCENTAGE IS CALLED

Answer 1

Answer:

Simple Aggregative Price Index Number

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Answer 2

Answer :

Simple aggregative price index number

Explanation :

• A simple index number is the ratio of two numbers that reflect the same variable, measured in two separate situations or periods. A basic price index number, for example, will show the price variance between the current period and a reference period.

• This price index value, which was computed using a rudimentary aggregative algorithm, is only of limited utility. The following are the reasons: Because all items are given identical weight, this method ignores the relative relevance of distinct commodities utilized in the calculation of the index number.