What is the level of measurement for the following: (Income less that $20000, 20,000 to $49,999, $50,000 to $99,000, $100,000 to 299,000, $300,000 to 499,000, $50,000 and above)?

Ratio scale

Explanation:

Ratio scale is a type of variable measurement scale that is quantitative in nature. Ratio scale allows any researcher to compare the intervals or differences. Ratio scale is the 4th level of measurement and possesses a zero point or character of origin. This is a unique feature of a ratio scale. For example, the temperature outside is 0-degree Celsius. 0 degree doesn’t mean it’s not hot or cold, it is a value.

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.