Index numbers
What Index numbers means in Economics B A-Level, as defined for Pearson Edexcel.
Definitions of Index numbers
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Reference: Pearson Edexcel
A statistical measure used to track changes in economic variables over time, such as inflation or economic growth, relative to a base year.
Values that express economic data relative to a base year, which is assigned a value of 100, enabling easy comparison of changes over time.
Figures where the base year is always set to 100, and subsequent numbers represent percentage changes from that specific base year.
Figures showing the percentage change relative to a base year, where the index equals 100, rather than the actual currency value.
Topics that use Index numbers
- Appendix 3: Quantitative skills (Pearson Edexcel A-Level)
- Exchange rates (Pearson Edexcel A-Level)
- Growing economies (Pearson Edexcel A-Level)
Related terms
- Base year
- Nominal values
- Price index
- Real values
- Appreciation
- Cross elasticity of demand
- Data interpretation
- Demand-pull inflation
Using Index numbers in the exam
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