Important Index and Reports: UPSC Previous Year Questions (Indian Economy)
1 previous year UPSC Prelims question on Important Index and Reports (Indian Economy). Choose an option to see the answer and explanation.
Explanations state facts as of the year each question was asked; words like “recently” refer to that year.
Showing 1–1 of 1 question
UPSC 1998Indian Economy · Important Index and Reports
Q1. The current Price Index (base 1960) is nearly 330. This means that the price of:
Explanation
Option (c) is correct: A Price Index measures the average change in prices of a selected basket of goods and services over time, relative to a base year. In this context, with 1960 as the base year (index value set at 100), a current price index of 330 indicates that the weighted average price of the selected items has increased by 3.3 times since 1960.
Option (a), (b) and (d) are incorrect:
A price index is based on a specific basket of goods and services and not all items in the economy. Therefore, it does not imply that all items have increased in price by 3.3 times. The price index reflects the weighted average change in prices of the entire basket and not individual selected items. The price index pertains to a broad basket of goods and services and does not provide information about specific commodities like gold.
Answer key for these questions
Q
UPSC year
Correct answer
1
1998
(c) weighted mean of price of certain items has increased 3.3 times
Frequently asked questions
How many previous year UPSC questions are there on Important Index and Reports?
This page covers 1 previous year UPSC Prelims GS Paper-I questions on Important Index and Reports (Indian Economy), asked from 1997 to 2016. Each has the correct answer and an explanation.
How should I use previous year UPSC questions for Prelims?
Attempt each question first, then open the answer and read the explanation for every option. Repeat by chapter, and track which statements UPSC reuses across years. Previous year questions show the exam pattern and difficulty level.
Which years are covered for Important Index and Reports?
Questions on Important Index and Reports (Indian Economy) are available for 8 years, from 1997 to 2016. Use the Year filter to practise a single paper.
