tutor2u | Index Numbers in Economics - Explained

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Index Numbers in Economics - Explained

Level:
AS, A Level, IB
Board:
AQA, Edexcel, OCR, IB, Eduqas, WJEC

Last updated 2 Jul 2018

What are index numbers?

Index numbers are a useful way of expressing economic data time series and comparing / contrasting information. An index number is a figure reflecting price or quantity compared with a base value. The base value always has an index number of 100. The index number is then expressed as 100 times the ratio to the base value. Note that index numbers have no units e.g. £, Euros or $

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