In this article we will discuss about:- 1. Meaning of Index Numbers 2. Features of Index Numbers 3. Steps or Problems in the Construction 4. Construction of Price Index Numbers (Formula and Examples) 5. Difficulties in Measuring Changes in Value of Money 6. Types of Index Numbers 7. Importance 8. Limitations. Meaning of Index Numbers: The value of money does [...]
In this article we will discuss about the mechanism of price system. Also learn about its functions and purposes. All economies face the same problems although their approach to solving them may differ. In a capitalist country, or even in a mixed economy like our own, prices perform, or can be used to perform, three basic functions: 1. The allocation [...]
In this article we will discuss about the pricing of multiple and joint products. The theory of price discrimination under monopoly can be extended to the problem of determining the prices for the multiple products of a firm. The extension of the theory was done by Eli W. Clemens. In reality, most firms produce more than one product. For this [...]