CUET Economics - This is the index of prices of a given basket of commodities which are bought by the representative customer. Two years under consideration are kept – one is the base year, the other is the current year. First, the cost of purchase of a given basket of commodities in the base year is calculated. Then the cost of purchase of the same basket in the current year is calculated. Then we express the latter as a percentage of the former. This index is called : 1. Customer Index Pricing 2. Consumer Index Pricing 3. Consumer Price Index 4. Customer Price Index | PYQs + Solutions | AfterBoards