Qualification > Commerce
ALL ECONOMICS DISCUSSION, PAPERS HELP HERE!!
hmh:
--- Quote from: Freaked12 on June 07, 2009, 02:22:22 pm ---
--- Quote from: hmh on June 07, 2009, 02:19:50 pm ---
--- Quote from: Freaked12 on June 07, 2009, 02:15:44 pm ---whats the difference between a RPI and inflation??
--- End quote ---
Inflation is the general or substain rise in prices over time. RPI is Retail Price index which is used to measure inflation.
Hope tht helps.
--- End quote ---
man sersly god bless you..
jus 1 more question...when they ask how to calculate RPI is it same like asking how to calculate inflation??
--- End quote ---
they ask "Describe how an index of retail price index is calculated.
basically its same thing.. but its jst a name given to whole process to measure inflation.. and inflation is name of rise in price whereas rpi is measure of inflation.
al noor:
--- Quote from: hmh on June 07, 2009, 02:24:30 pm ---
--- Quote from: Freaked12 on June 07, 2009, 02:22:22 pm ---
--- Quote from: hmh on June 07, 2009, 02:19:50 pm ---
--- Quote from: Freaked12 on June 07, 2009, 02:15:44 pm ---whats the difference between a RPI and inflation??
--- End quote ---
Inflation is the general or substain rise in prices over time. RPI is Retail Price index which is used to measure inflation.
Hope tht helps.
--- End quote ---
man sersly god bless you..
jus 1 more question...when they ask how to calculate RPI is it same like asking how to calculate inflation??
--- End quote ---
they ask "Describe how an index of retail price index is calculated.
basically its same thing.. but its jst a name given to whole process to measure inflation.. and inflation is name of rise in price whereas rpi is measure of inflation.
--- End quote ---
Most of the past papers i have seen..how we calculate RPI for 7 marks and i dnt knw to write an answer for 7 marks ..can any1 help??
hmh:
--- Quote from: al noor on June 07, 2009, 02:28:01 pm ---
--- Quote from: hmh on June 07, 2009, 02:24:30 pm ---
--- Quote from: Freaked12 on June 07, 2009, 02:22:22 pm ---
--- Quote from: hmh on June 07, 2009, 02:19:50 pm ---
--- Quote from: Freaked12 on June 07, 2009, 02:15:44 pm ---whats the difference between a RPI and inflation??
--- End quote ---
Inflation is the general or substain rise in prices over time. RPI is Retail Price index which is used to measure inflation.
Hope tht helps.
--- End quote ---
man sersly god bless you..
jus 1 more question...when they ask how to calculate RPI is it same like asking how to calculate inflation??
--- End quote ---
they ask "Describe how an index of retail price index is calculated.
basically its same thing.. but its jst a name given to whole process to measure inflation.. and inflation is name of rise in price whereas rpi is measure of inflation.
--- End quote ---
Most of the past papers i have seen..how we calculate RPI for 7 marks and i dnt knw to write an answer for 7 marks ..can any1 help??
--- End quote ---
First of all, A base is selected and then we found out how households spend their money, what goods and services they spend most of their incomes on.This is called basket. Then weight is attached to these goods and services which is how much of the income is spend on this good or service. After that retail shops are selected throughout the country and are told to keep a record of consumer spending. Then price changes are found between a certain amount of time, and then we construct a weighted price index. That is multiplying the new price index by weight for each catergory of products to calculate the general change in price.
Hope it helps! :)
al noor:
--- Quote from: hmh on June 07, 2009, 02:29:04 pm ---
--- Quote from: al noor on June 07, 2009, 02:28:01 pm ---
--- Quote from: hmh on June 07, 2009, 02:24:30 pm ---
--- Quote from: Freaked12 on June 07, 2009, 02:22:22 pm ---
--- Quote from: hmh on June 07, 2009, 02:19:50 pm ---
--- Quote from: Freaked12 on June 07, 2009, 02:15:44 pm ---whats the difference between a RPI and inflation??
--- End quote ---
Inflation is the general or substain rise in prices over time. RPI is Retail Price index which is used to measure inflation.
Hope tht helps.
--- End quote ---
man sersly god bless you..
jus 1 more question...when they ask how to calculate RPI is it same like asking how to calculate inflation??
--- End quote ---
they ask "Describe how an index of retail price index is calculated.
basically its same thing.. but its jst a name given to whole process to measure inflation.. and inflation is name of rise in price whereas rpi is measure of inflation.
--- End quote ---
Most of the past papers i have seen..how we calculate RPI for 7 marks and i dnt knw to write an answer for 7 marks ..can any1 help??
--- End quote ---
First of all, A base is selected and then we found out how households spend their money, what goods and services they spend most of their incomes on.This is called basket. Then weight is attached to these goods and services which is how much of the income is spend on this good or service. After that retail shops are selected throughout the country and are told to keep a record of consumer spending. Then price changes are found between a certain amount of time, and then we construct a weighted price index. That is multiplying the new price index by weight for each catergory of products to calculate the general change in price.
Hope it helps! :)
--- End quote ---
OMG...u really saved my life..thnkz aloottt :D :D
I owe u ;)
hmh:
u owe me nothing m8.. Gud luck for exam :)
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