Examlex
Which variable is least likely to be regarded as ratio data?
Quantity Supplied
Quantity Supplied refers to the amount of a certain good producers are willing to supply when receiving a certain price, directly influenced by the price level, among other factors.
Inferior Good
A type of good whose demand decreases when the income of consumers increases, opposite to normal goods.
Consumer Income
Consumer income is the total earnings of an individual or household from various sources, including employment, investments, and government assistance, available for spending and saving.
Price Floor
A government or group-imposed limit that prevents prices of goods or services from falling below a certain level.
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