Which Data Scales of Measurement Are Associated with Qualitative Data

question 72

Multiple Choice

Which data scales of measurement are associated with qualitative data?

• A) Interval and ratio
• B) Ratio and nominal
• C) Ordinal and interval
• D) Nominal and ordinal

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Definitions:

Elastic Supply

A situation where the quantity supplied of a good or service changes significantly when its price changes.

Quantity Supplied

The amount of a commodity that producers are willing to sell at a particular price over a specified period.

Price Rise

An increase in the cost of goods or services over a period of time, often measured by inflation rates.

Price Elasticity

An evaluation of consumers' reaction in terms of the quantity of a good they demand when its price changes, indicating their price sensitivity.