Who Is Best Associated with the Development of the Scaling

question 61

Multiple Choice

Who is best associated with the development of the scaling methodology?

• A) Galton
• B) Cohen
• C) Spearman
• D) Thurstone

---

Definitions:

Time Preference

This concept describes individuals' preference for immediate benefits over future ones, influencing their decisions on saving, investing, and consumption.

Time Preference

An individual's preference for receiving goods or services sooner rather than later.

Capital Goods

Long-term physical assets used in the production of goods or services, such as machinery and buildings.

Current Consumption

The total amount of goods and services consumed at the present time, as opposed to savings for future consumption.