ALL ECONOMICS DISCUSSION, PAPERS HELP HERE!!

[Freaked12]

whats the difference between a RPI and inflation??

[hmh]

whats the difference between a RPI and inflation??

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.

[hmh]

THX HMH ....that seems to be atleast 5/7 ........ may be more !

THX

It will be probly 7 wen u write in ur own words. Ur welcome

[al noor]

whats the difference between a RPI and inflation??

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.

Inflation is the persistent genearl increase in price of level of goods and services..
where as,,retail price index is a monthly survey carried out by the governement to measure price changes!!

hope it helps

[Freaked12]

whats the difference between a RPI and inflation??

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.

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??

[hmh]

whats the difference between a RPI and inflation??

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.

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??

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]

whats the difference between a RPI and inflation??

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.

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??

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.

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]

whats the difference between a RPI and inflation??

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.

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??

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.

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??

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]

whats the difference between a RPI and inflation??

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.

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??

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.

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??

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!

OMG...u really saved my life..thnkz aloottt
I owe u 

[hmh]

u owe me nothing m8.. Gud luck for exam

[Freaked12]

whats the difference between a RPI and inflation??

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.

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??

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.

it came in the Novmeber 2008 paper how to calculate inflation

so please check whether my answer is correct
The average price of the basket of products bought by a typical household in the first year of calculation or the base year is given the number 100.Then,if on average,prices rise by 25 percent than the price index at the end of the second year will be 125.Than,if on average,prices rise by 10 percent than it would be 137.5(125 * 10%)+125.This tells us consumer prices have risen on average by 37.5 percent over the two year period.

please tell any modifications if needed in the answer

[al noor]

u owe me nothing m8.. Gud luck for exam

Gd luck 2 u 2...By the way what lessons do u think is really IMP??
By the way guyz what r ur predictions for 2mrws exam??

[hmh]

whats the difference between a RPI and inflation??

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.

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??

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.

it came in the Novmeber 2008 paper how to calculate inflation

so please check whether my answer is correct
The average price of the basket of products bought by a typical household in the first year of calculation or the base year is given the number 100.Then,if on average,prices rise by 25 percent than the price index at the end of the second year will be 125.Than,if on average,prices rise by 10 percent than it would be 137.5(125 * 10%)+125.This tells us consumer prices have risen on average by 37.5 percent over the two year period.

please tell any modifications if needed in the answer

I think its fine.. as long as there r numbers.. u can read my answer above tht may help

[Name]

hey, do we need numbers to show how inflation is calculated?

[hmh]

hey, do we need numbers to show how inflation is calculated?

not necessarily.. but if they actually give u the numbers ..then u should use them.