The best method to measure the relative change in prices of commodities is: * 1 pointQuantity index numberValue index numberVolume index numberPrice index number

The best method to measure the relative change in prices of commoditie

1.	The best method to measure the relative change in prices of commodities is: * 1 pointQuantity index numberValue index numberVolume index numberPrice index number
Answer» In this method, the index number is equal to the SUM of price relatives divided by the number of items and is calculated by USING the following FORMULA: 3. Weighted Aggregative Method: In this method, different weights are assigned to the items according to their RELATIVE importanceExplanation:A value index is a measure (ratio) that describes change in a nominal value relative to its value in the base year. The index point figure for each point in time tells what percentage a given value is at that point in time of its respective value at the base point in time.