Prices, location and spread
Prices, location and spread

Start this free course now. Just create an account and sign in. Enrol and complete the course for a free statement of participation or digital badge if available.

Free course

Prices, location and spread

2 Weighted means

For goods and services, price changes vary considerably from one to another. Central to the theme question of this course, Are people getting better or worse off?, there is a need to find a fair method of calculating the average price change over a wide range of goods and services. Clearly a 10% rise in the price of bread is of greater significance to most people than a similar rise in the price of clothes pegs, say. What we need to take account of, then, are the relative weightings attached to the various price changes under consideration.


Take your learning further

Making the decision to study can be a big step, which is why you'll want a trusted University. The Open University has 50 years’ experience delivering flexible learning and 170,000 students are studying with us right now. Take a look at all Open University courses.

If you are new to University-level study, we offer two introductory routes to our qualifications. You could either choose to start with an Access module, or a module which allows you to count your previous learning towards an Open University qualification. Read our guide on Where to take your learning next for more information.

Not ready for formal University study? Then browse over 1000 free courses on OpenLearn and sign up to our newsletter to hear about new free courses as they are released.

Every year, thousands of students decide to study with The Open University. With over 120 qualifications, we’ve got the right course for you.

Request an Open University prospectus371