MEASURAMENT AND TYPE OF DATA IN ECONOMICS

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MEASURAMENT AND TYPE OF DATA IN ECONOMICS

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Asked 2/28/2012 3:41:44 AM

Updated 8/5/2024 12:08:03 PM

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User: MEASURAMENT AND TYPE OF DATA IN ECONOMICS

Weegy: The measures used in economics are physical measures, nominal price value measures and fixed price value measures. These measures differ from one another by the variables they measure and by the variables excluded from measurements. [ [ The measurable variables in economics are quantity, quality and distribution. By excluding variables from measurement makes it possible to better focus the measurement on a given variable, yet, this means a narrower approach. ] ]
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Asked 2/28/2012 3:41:44 AM

Updated 8/5/2024 12:08:03 PM

1 Answer/Comment

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In economics, measurement and type of data involve quantifying variables like GDP, inflation rates, and unemployment levels, using both qualitative and quantitative data.

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Added 8/5/2024 12:08:01 PM

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