Statistics for Economics | 11th Commerce

1-Simple Aggregative Method 2-Simple Average of Price Relatives Method   Weighted Index Numbers – 1-Weighted Average of Price Relatives Method 2-Weighted Aggregative Method - a-Laspeyre b-Paasche c-Fisher   Methods of Constructing Consumer Price Index (CPI) – 1-Aggregative Expenditure Method 2-Family Budget Method   Rate of Inflation   Wholesale Price Index (WPI)   Index of Industrial Production (IIP) VIDEO DESCRIPTION (max 5,000 characters) INDEX NUMBERS, All Formulas, in one video, Class 11, Final Exams, Most important, One shot | Index Numbers | 11th Commerce | by @statomics11comm   🗣️ आपके लिए , इस Session की "tuition fee" है केवल : 👉 video को like 👍 & SHARE 🚀 करना , अपने feedback को Comment 📝 करें ; और सबसे ज़रूरी बात , Channel को SUBSCRIBE करके notification bell 🛎 icon को भी press करना ना भूलें ~XOXO 📚 CHAPTER PLAYLIST ► Ch 13 – Index Numbers https://www.youtube.com/playlist?list=PL0BlcnHQsq5Ip

  🚩Timestamps:- 00:11 Session Agenda 01:06 Inflation and Index Numbers 07:02 FALL IN THE RATE OF INFLATION DOES NOT IMPLY FALL IN THE PRICE LEVEL 13:02 Concluding Remarks Learning Outcomes:- Through this module, you will gain understanding on:- 1.    Inflation and Index Numbers 2.    FALL IN THE RATE OF INFLATION DOES NOT IMPLY FALL IN THE PRICE LEVEL   Inflation and Index Numbers ·         Inflation refers to a situation of rise in the general price level in a country over a fairly long period of time. Often, inflation is measured in terms of wholesale price index. A consistent rise in the wholesale price index over time implies a situation of inflation. ·         Example: If wholesale price index rises from 100 in 2004-05 (base year) to 150 in 2014, and if the increase in price has almost been consistent over time (like, every year the general price level has been rising by 5-10%), it would be deemed as a situation of inflation. Implying a continuous erosi

🚩Timestamps:- 00:07 Session Agenda 00:41 Index Number of Industrial Production 02:43 Significance of IIP 03:58 CONSTRUCTION OF INDEX NUMBER OF INDUSTRIAL PRODUCTION 07:42 Weightage of Items 11:37 Formula 13:31 Concluding Remarks Learning Outcomes:- Through this module, you will gain understanding on:- 1.    Index Number of Industrial Production 2.    Significance of IIP 3.    CONSTRUCTION OF INDEX NUMBER OF INDUSTRIAL PRODUCTION   Index Number of Industrial Production ·         Index number of industrial production is that index which measures the relative increase or decrease in the level of industrial output in a country in comparison to the level of production in the base year. In India, the base year for the current series is 2011-12. ·         These index numbers tell us about the changes in the quantum of production. These index numbers are useful in estimating the growth of industrial production in the economy.   It is compiled and publish

🚩Timestamps:- 00:07 Session Agenda 01:17 Wholesale Price Index (WPI) 04:19 COMMODITY GROUP AND WEIGHTAGE OF WHOLESALE PRICE INDEX 07:48 USES OF WHOLESALE PRICE INDEX 13:57 Who publishes wholesale price index? 14:18 Calculating WPI: the Methodology 18:26 Concluding Remarks Learning Outcomes:- Through this module, you will gain understanding on:- 1.    Wholesale Price Index (WPI) 2.    COMMODITY GROUP AND WEIGHTAGE OF WHOLESALE PRICE INDEX 3.    USES OF WHOLESALE PRICE INDEX 4.    Who publishes wholesale price index? 5.    Calculating WPI: the Methodology Wholesale Price Index (WPI) The Wholesale Price Index (WPI) measures the relative changes in the prices of commodities traded in the wholesale markets. In India, the wholesale price index numbers are constructed on weekly basis. ·         In India, the new Wholesale Price Index (WPI) series with base 2004-05 = 100 became effective from 2010 shifting from the earlier base of 1999-2000. The Government plans