Commodities

question 122

Multiple Choice

Commodities:

• A)are a special type of standardized good.
• B)have no product differentiation.
• C)are identical regardless of who produced it.
• D)All of these are true.

---

Definitions:

Data

The facts and figures collected, analyzed, and summarized for presentation and interpretation.

Nominal Scale

A measurement scale used for categorization without a natural order or rank.

Numeric

Relating to, measurable in, or expressed as numbers or numerical data.

Nonnumeric

Pertaining to data that cannot be quantified or counted numerically, typically qualitative data.