1. Quantity index numbers are used to show rise or fall in volume of production, volume of exports and imports.
2. Consumer price index is used to measure the changes in purchasing power of money.
3. The export and import indices are used to measure changes in terms of trade of a country.
4. Index numbers of industrial production provide a measure of change in level of industrial production in a country.
5. Index numbers are used to forecast business conditions of a country and to discover fluctuations and business cycles.
6. Index numbers are used to measure environmental changes, intelligence quotients and the performance of students.
Jonmhumble answered the question on November 9, 2017 at 14:15
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