Income Is a Variable Often Used in Business and Economics

question 9

Multiple Choice

Income is a variable often used in business and economics. Income is an example of a variable that uses the:

• A) Ordinal scale
• B) Nominal scale
• C) Ratio scale
• D) Interval scale

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Definitions:

Construction

The process of building or assembling infrastructure, buildings, and other physical structures.

Unionization Rate

The percentage of employees in a labor force that are members of a union.

Legal Workers

Legal workers are individuals who are lawfully authorized to work in a specific country, either as citizens, permanent residents, or with a valid work visa.

Sales Workers

Individuals engaged in selling goods and services to consumers, often directly interacting with the buyers to facilitate transactions.