Economy, asked by khushi205416, 4 months ago

What is the importance of base year? Explain in points. (From chapter Index Number Class 11)

Give correct answers only.

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Answered by Anonymous

1

Answer:

A base year is used for comparison in the measure of a business activity or economic index. For example, to find the rate of inflation between 2013 and 2018, 2013 is the base year or the first year in the time set.

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