Maharashtra Board Class 12 Solutions for Economics Chapter 6 Index Numbers- PDF

This chapter explains what Index Numbers are. The definition is given based on the explanation proposed by Spiegel. It is a statistical measure that describes how changes happen when a set of variables is defined with respect to time.

It will also explain the features of these numbers and describe how users can define a cumulative change in all the variables chosen for the statistical calculation. The formulas will be defined following the definition with a proper explanation of the mathematical terms used.

Proceeding further, this chapter will also describe the different types of index numbers. The types of index numbers are:

• Price index number

• Quantity index number

• Special purpose index number

• Value index number

In the first type, there are subtypes of retail, wholesale, and cost living index number. All these divisions are done based on the variables chosen for the statistical measure of changes. The features and significance of the index numbers will also be explained in this chapter.

This chapter will also explain how an index number is constructed by focusing on a set of variables. Every step is explained with proper mathematical expressions. Students will learn how to assign weights to the variables and how to formulate the calculations.

To understand these basic concepts, you can refer to the Maharashtra Board Class 12 Economics Solutions Chapter 6 Index Numbers and focus on how the experts have explained them in an easier format.

Benefits of Index Number Class 12 Solutions

• The experts have followed the latest MH Board Class 12 syllabus to cover all the concepts and fundamental principles of index numbers. You will find the precise format of solutions for this chapter and can prepare it well.

• The easier format of this chapter will also enable you to concentrate on the prime concepts. You will also be able to memorise and recall them when needed to frame accurate answers for fundamental questions.

• After completing studying this chapter, you can use the Index Number exercise solutions to evaluate your skills. Find out where you need to work more by comparing your answers with the solution file.

• Learn how the experts have framed the Index Number Class 12 solutions using the concepts. Focus on how the answers are framed to enhance your skills and score well in the exams.

Download Index Number Class 12 Solutions Economics PDF

Get the free PDF version of these solutions and make your study sessions more fruitful. Forget the hassles of making solutions when the experts have already done it for you. Refer to these solutions to grab the concepts of index numbers, their formulas and calculations and score well in the exams.