The Australian Bureau of Statistics Regularly Publishes the Average Retail

question 24

Essay

The Australian Bureau of Statistics regularly publishes the average retail prices of selected items for each Australian capital city. The following table presents the prices of oranges, bananas, potatoes, tomatoes, carrots and onions in Melbourne during the June quarter in 2008 and 2010. $$\begin{array}{l}\text { Fruit and vegetable prices } ( \$ / \mathrm { kg } )\\\begin{array} { | l | c | c | } \hline \text { Item } & \text { June 2008 } & \text { June 2010 } \\\hline \text { Oranges } & 2.98 & 2.95 \\\hline \text { Bananas } & 2.32 & 2.37 \\\hline \text { Potatoes } & 2.69 & 2.44 \\\hline \text { Tomatoes } & 3.72 & 4.59 \\\hline \text { Carrots } & 2.20 & 1.95 \\\hline \text { Onions } & 2.57 & 2.35 \\\hline\end{array}\end{array}$$ Construct the average of relative price indexes for the fruit and vegetable group for June 2010 (with base June 2008 = 100).

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Definitions:

Customer Service

The assistance and advice provided by a company to those people who buy or use its products or services.

High-Wage Country

A country characterized by high average wages for its workers compared to the global average, often due to strong economies, advanced technologies, and high standards of living.

Feminine Culture

Cultural values that emphasize traits traditionally associated with femininity, such as cooperation, caring, and nurturing.

Collectivist

Prioritizing the group or community's needs and interests above individual desires, characteristic of cultures or organizations valuing cooperation over competition.