A Variable That Cannot Be Measured in Terms of How

question 102

Multiple Choice

A variable that cannot be measured in terms of how much or how many but instead is assigned values to represent categories is called

• A)an interaction
• B)a constant variable
• C)a category variable
• D)a qualitative variable

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Definitions:

Market Economies

Economic systems in which supply and demand drive the production and pricing of goods and services, with minimal government intervention.

Price Ceiling

A government-imposed limit on how high a price can be charged for a product or service, aimed at preventing prices from reaching levels deemed too high for consumers.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level, at a specific time.

Black Market

An illegal market where goods or services are traded without compliance with legal requirements, often including the sale of illicit goods.