When Comparing the Four Scales of Measurement,what Distinguishes the Interval

question 15

Multiple Choice

When comparing the four scales of measurement,what distinguishes the interval scale from the ratio scale?

• A)Magnitude
• B)Equal intervals
• C)Absolute zero
• D)There is no difference

---

Definitions:

Explicit Costs

Direct, out-of-pocket payments for resources or services used in the production process.

Accounting Profits

Represents the difference between total revenue and explicit costs of a firm.

Economic Profit

The difference between the revenue received from the sale of an output and the opportunity cost of the inputs used, often considered in terms of exceeding the company's normal profit level.

Entrepreneur's Talent

The unique set of skills, insights, and abilities that an entrepreneur possesses, contributing to their success in creating and running businesses.