A Question That Asks How Much You Would Be Willing

question 68

Multiple Choice

A question that asks how much you would be willing to pay in annual premium for a $100,000 life insurance policy would be scaled as:

• A) nominal
• B) ordinal
• C) interval
• D) ratio
• E) origin

---

Definitions:

Trade Secret

A form of intellectual property comprising confidential information that provides a business with a competitive edge.

Sufficient Value

A concept in contract law that refers to the necessity of both parties exchanging something of value for a contract to be considered valid.

Trademark

A distinct symbol, pattern, or phrase that distinguishes the goods or services of one origin from those of another.

Manufacturer

Any person or entity that makes goods or merchandise from raw materials by hand or by machinery, often on a large scale.