What are the types of index numbers?

1. Price Index Numbers
2. Quantity Index Numbers
3. Value Index Numbers
4. Time Index Numbers
5. Composite Index Numbers

1. Simple Index Numbers

- Laspeyres' Index Number: Uses the base year's prices as weights.
- Paasche's Index Number: Uses the current year's prices as weights.
- Marshall-Edgeworth's Index Number: The geometric mean of Laspeyres' and Paasche's indices.

2. Weighted Index Numbers

- Weighted Average of Price Relatives: Weights are given to individual commodities based on their relative importance.
- Weighted Aggregate of Price Index: Weights are assigned to sub-groups of commodities, and their respective index numbers are aggregated.

3. Chain Index Numbers

- Linked Index Numbers: Uses different weights for each period, linking them to the previous period's index number.
- Continuous Index Numbers: Re-weights index numbers continuously as new data becomes available.

4. Other Types of Index Numbers

- Fixed-Base Index Numbers: Use a specific year as the base and compare all other periods to it.
- Current-Weight Index Numbers: Use current period weights to calculate the index number.
- Same-Commodity Index Numbers: Focus on a specific set of commodities, excluding any new or disappearing items.
- Input and Output Index Numbers: Measure changes in the prices of inputs (e.g., raw materials) and outputs (e.g., finished goods) separately.
- Fisher's Ideal Index Number: Considers both Laspeyres' and Paasche's index numbers and weights them equally.