Which Characteristic Is Associated Only with Ratio Scales

question 25

Multiple Choice

Which characteristic is associated only with ratio scales?

• A) description
• B) order
• C) distance
• D) origin
• E) ratiocination

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Definitions:

Substitute Resources

Resources or inputs that can be used in place of each other in the production process.

Inelastic

Describes a situation where a change in price leads to a relatively smaller change in the quantity demanded or supplied.

Remittances

Money sent by migrants back to their home countries, often to support family members financially.

GDP

Gross Domestic Product, the total market value of all final goods and services produced within a country in a specific time period.