A Market Research Analyst Has Asked Consumers to Rate the Appearance

question 23

Multiple Choice

A market research analyst has asked consumers to rate the appearance of a new package on a scale of 1 to 5.A 1 means that the appearance is awful while a 5 means that it is excellent.The measurement level of this data is _______.

• A)interval level data
• B)ordinal level data
• C)nominal level data
• D)ratio level data
• E)relative level data

---

Definitions:

Interproduct Competition

Interproduct Competition refers to the competition between different products that serve similar purposes, encouraging diversity and improvement in the market.

Monopolistic Competition

A market structure where many companies sell products that are similar but not identical, allowing for competition based on other factors than price.

Economies of Scale

The financial advantages gained by enterprises from their operational size, where the per-unit cost decreases as the operation size increases.

Unit Cost

The cost incurred to produce, manufacture, or acquire one unit of a product or service.