A Scale Which Arranges Brands in an Ordered Sequence in Which

question 41

Multiple Choice

A scale which arranges brands in an ordered sequence in which there is an equal interval between each point on the scale is an example of a(n) ____ scale.

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

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Definitions:

Demand Price

Demand price is the maximum price consumers are willing to pay for a product or service, influenced by factors like income, preferences, and availability of substitutes.

Supply Price

The price at which producers are willing to sell a product, which typically varies in direct relation to the quantity supplied.

Quota Limit

A restriction on the amount or number of a particular good that can be imported or exported.

Ceiling Price

It is a legally imposed maximum price on a good or service, intended to prevent prices from rising above a certain level.