Math
INTRODUCTION
In our daily lives, we come across news like "prices of goods rising!" or "super discount!".
This means that we have to pay a higher or a lower price for the same goods or services.
Very often we use index numbers to indicate these changes.
In Form 4, we have learnt about Index Number from Chapter 11 in Additional Mathematics.
Do you know what exactly Index Number is? Well, an index number is an economic data figure reflecting price or quantity compared with a standard or base value. The base usually equals to 100 and the index number is usually expressed as 100 times the ratio to the base value. For example, if a commodity costs twice as much in 1970 as it did in 1960, its index number would be 200 relative to 1960. Index numbers are used especially to compare business activity, the cost of living, and employment. They enable economists to reduce their business data into easily understood terms. Creativity Zone! Let’s Think!
Were things cheaper last rear?
Has anything not risen in price?
What has increased the most?
How much more pocket money do you need to buy the same things as last year?
In this chapter, we will learn to compare the changes of these prices over a period and interpret the data in suitable method.
Creativity Zone! Let’s Think!
Were things cheaper last rear?
Has anything not risen in price?
What has increased the most?
How much more pocket money do you need to buy the same things as last year?
In this chapter, we will learn to compare the changes of these prices over a period and interpret the data in suitable method.
We often heard about several terms like Price Index, Weightage and Composite Index, and now let’s see what actually they are! P A R T O N E To understand the terms of Price Index, Weightage and Composite Index and describe briefly. (I have carried out a deep research through discussion with friends and collected some useful information from internet): PRICE
In our daily lives, we come across news like "prices of goods rising!" or "super discount!".
This means that we have to pay a higher or a lower price for the same goods or services.
Very often we use index numbers to indicate these changes.
In Form 4, we have learnt about Index Number from Chapter 11 in Additional Mathematics.
Do you know what exactly Index Number is? Well, an index number is an economic data figure reflecting price or quantity compared with a standard or base value. The base usually equals to 100 and the index number is usually expressed as 100 times the ratio to the base value. For example, if a commodity costs twice as much in 1970 as it did in 1960, its index number would be 200 relative to 1960. Index numbers are used especially to compare business activity, the cost of living, and employment. They enable economists to reduce their business data into easily understood terms. Creativity Zone! Let’s Think!
Were things cheaper last rear?
Has anything not risen in price?
What has increased the most?
How much more pocket money do you need to buy the same things as last year?
In this chapter, we will learn to compare the changes of these prices over a period and interpret the data in suitable method.
Creativity Zone! Let’s Think!
Were things cheaper last rear?
Has anything not risen in price?
What has increased the most?
How much more pocket money do you need to buy the same things as last year?
In this chapter, we will learn to compare the changes of these prices over a period and interpret the data in suitable method.
We often heard about several terms like Price Index, Weightage and Composite Index, and now let’s see what actually they are! P A R T O N E To understand the terms of Price Index, Weightage and Composite Index and describe briefly. (I have carried out a deep research through discussion with friends and collected some useful information from internet): PRICE