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Task 1 1. A simple index number Index numbers is a number that expresses the relative change in price, quantity, or value from one period to another (1). Price index number = cost of basket in current period x 100 cost of basket in base period An index number provides a quantitative description of change over time - how much increase? How much decrease? Market researchers are also using index numbers are also using index numbers to compare a research result with an overall norm, to measure how the investment, specially in advertising industry, are working. How changes in these figures are related to the current economy as advertising is promoted as an engine that drives the economy rather than a supplement? 2. A composite index 2.1 Laspeyres Price Index The most commonly used weighted price index is the Laspeyres Price Index named after its inventor. It is a weighted aggregate price index that uses the...

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