AQA A Level · 7136 · Paper 2: The national and international economy
4.2.1.3 Uses of Index Numbers
Also AQA AS 7135: 3.2.1.3
Everything you need for questions on index numbers, in the words examiners reward. An interactive seven-step lesson goes with it.
What's on this sheet
- What an index number is
- Comparing two series
- The calculations
- Weighted index numbers: how the CPI is built
- Limitations of index numbers
- Classic question: does the CPI measure the cost of living for every household?
- Reading index numbers in exam data
- Side 2: practice tasks, where the marks go, and exam-style questions
- Separate answer key
The lesson in seven steps
- Turn prices into an index
- Whose inflation rate?
- Real or nominal?
- Index number calculations
- Measuring the cost of living
- Build the chain
- Exam practice
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