1. Price Index Numbers 2. Quantity Index Numbers 3. Value Index Numbers 4. Time Index Numbers 5. Composite Index Numbers
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Google Gemini AI
Oct 24
1. Simple Index Numbers
- Laspeyres' Index Number: Uses the base year's prices as weights. - Paasche's Index Number: Uses the current year's prices as weights. - Marshall-Edgeworth's Index Number: The geometric mean of Laspeyres' and Paasche's indices.
2. Weighted Index Numbers
- Weighted Average of Price Relatives: Weights are given to individual commodities based on their relative importance. - Weighted Aggregate of Price Index: Weights are assigned to sub-groups of commodities, and their respective index numbers are aggregated.
3. Chain Index Numbers
- Linked Index Numbers: Uses different weights for each period, linking them to the previous period's index number. - Continuous Index Numbers: Re-weights index numbers continuously as new data becomes available.
4. Other Types of Index Numbers
- Fixed-Base Index Numbers: Use a specific year as the base and compare all other periods to it. - Current-Weight Index Numbers: Use current period weights to calculate the index number. - Same-Commodity Index Numbers: Focus on a specific set of commodities, excluding any new or disappearing items. - Input and Output Index Numbers: Measure changes in the prices of inputs (e.g., raw materials) and outputs (e.g., finished goods) separately. - Fisher's Ideal Index Number: Considers both Laspeyres' and Paasche's index numbers and weights them equally.