The percentage of total expenditure spent on a specific product is called
A)Core inflation.
B)A market basket.
C)A budget.
D)The item weight.

Question

Quizplus · Accepted Answer

The item weight in the context of expenditure or budget analysis refers to the percentage of total expenditure allocated to a specific product or category. This concept is used in various financial and economic analyses, including the calculation of inflation rates where different items are weighted based on their importance or share in the total expenditure.

The Percentage of Total Expenditure Spent on a Specific Product