Sorting Techniques Can Be Employed to Develop

question 72

Multiple Choice

Sorting techniques can be employed to develop

• A) nominal scales.
• B) ordinal scales.
• C) interval scales.
• D) All of these

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Definitions:

Agricultural Subsidies

Government payments to farmers to supplement their income, manage the supply of agricultural commodities, and influence the cost and supply of such goods.

Tariff

A tax imposed on imported goods, intended to increase the price of foreign products to protect domestic producers.

Quota

A government-imposed trade restriction that limits the number or monetary value of goods that can be imported or exported during a specific time frame.

Comparative Advantage

The capacity of a nation or company to manufacture a specific good or service with a lower opportunity cost compared to its rivals.