Index numbers can be used for:

Forecasting

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Fixed prices

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Different prices

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Constant prices

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Solution

The correct option is B Forecasting
Index number can be used for Forecasting.
This index number is a useful number that helps us quantify changes in our field. It is easier to see one value than a thousand different values for each item in our field.

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Similar questions

(I) The change in any price is reflected in an index number.

(II) The wholesale price index can be used to measure the monetary and real value of national income and expenditure.

What are the disadvantages in using Paasche's formula for the construction of a price index number?

Fixed capital can be used

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