A Property of a Scale That Implies the Complete Absence

question 42

Multiple Choice

A property of a scale that implies the complete absence of the measured attribute is called a(n)

• A)magnitude.
• B)absolute zero.
• C)equal interval.
• D)ratio.

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Definitions:

Market Demand

The total quantity of a product or service that all consumers in a market are willing and able to purchase at various prices.

Increases

This term refers to a situation where a quantity or quality of something goes up or becomes more.

Constant-Cost Industry

An industry where the costs of production do not change as the overall level of production increases or decreases.

Long-Run Supply

The total amount of a good or service that is available in the market over a long term, taking into account adjustments in production and entry or exit of firms.