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Doctors Medicines MCQs Q&A

  1. Only 1, 2 and 3
  2. Only 1, 3 and 4
  3. Only 1,2 and 4
  4. All of the above
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1 Answers

Option 4 : All of the above

The correct answer is All of the above.

  • Wholesale Price Index (WPI): 
    • ​The Wholesale Price Index represents the price of a basket of wholesale goods. WPI focuses on the price of goods that are traded between corporations. It does not concentrate on goods purchased by the consumers.
  • Consumer Price Index (CPI):
    • The CPI is a measure that assesses the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, purchased by households.
Context WPI CPI
Commodities Goods only Goods and Services both
Publishing office Office of Economic Advisor (Ministry of Commerce & Industry) Central Statistics Office (Ministry of Statistics and Programme Implementation) & Labour Bureau
Base Year 2011-12 2012
Basis Weekly and Monthly Monthly
Inflation Measurement  First stage of a transaction Final stage of a transaction
Prices paid by Manufacturers and wholesalers Consumers

 

  • Hence, statement 1, 2, 3 and 4 are correct.
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