Which of the Following Orders Lists the Scales of Measurement

question 6

Multiple Choice

Which of the following orders lists the scales of measurement from the scale that provides the least specific information to the scale that provides the most specific information?

• A)ratio,interval,ordinal,nominal
• B)ratio,interval,nominal,ordinal
• C)ordinal,nominal,interval,ratio
• D)nominal,ordinal,interval,ratio

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Definitions:

Producer Surplus

The difference between the actual amount producers receive for a good and the minimum amount they would be willing to accept.

Firm

A business enterprise or establishment engaged in commercial, industrial, or professional activities.

Normal Good

A type of good for which demand increases when consumer income rises, and falls when consumer income decreases.

Demand Shift

A change in the quantity demanded at every price point, often caused by factors like consumer preferences, income, and price of related goods.