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Learning objective

Grasp the concept of a price relative.

Read the explanation, check the common trap, then practise with flashcards and questions.

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  • Read the explanation.
  • Check key terms.
  • Practise with linked questions.
Cambridge IGCSE StatisticsIndex numbers

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Quick explanation

Grasp the concept of a price relative

  • This point belongs to Index numbers, especially Index numbers outcomes.
  • You need to be able to grasp the concept of a price relative.
  • The key ideas to know are Define.
  • Use the linked flashcards and practice questions to check recall, then practise applying the idea in an exam-style answer.

Key concepts

Define

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This objective helps connect Index numbers outcomes to exam-style questions, flashcards, and revision notes for Index numbers.

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Paper 1 structured question: Index numbers

Paper 1Statistical Techniques2 marks

Description

Price Change of a Product

The price of a product in 2018 was $50. In 2020, the price increased to $60.

YearPrice ($)
201850
202060
  1. a

    Calculate the price relative for the product in 2020 using 2018 as the base year.

    Aim for approximately 2 distinct marking points.

    [2]
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