The Social Insurance Number of Employees Would Be an Example

question 79

Multiple Choice

The social insurance number of employees would be an example of what level of data measurement?

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

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Definitions:

Total Revenue

The total receipts from sales of goods and services to customers; it is the unit price times the quantity of goods or services sold.

Quantity Demanded

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

Price Elasticity

A metric evaluating the sensitivity of the amount of a good purchased to price fluctuations.

Demand Curve

A graph showing the relationship between the price of a product and the quantity of the product that consumers are willing to purchase.