Answer:
Marginal analysis is helpful to individuals and businesses in balancing the costs and benefits of additional actions, like whether to produce more, consume more, and similar other decisions, thus determining whether the benefits will exceed costs and increase utility.
Answer:
d. All of the above
Explanation:
A scale can be defined as an ordered numerical or alphabetical sequence that is typically used for taking measurements such as size, weight, height, length, etc. Also, a scale is used in the field of science to assign magnitude to physical activities and natural phenomenons such as an earthquake using the Richter scale.
In Science, there are four (4) main scales of measurement and these includes;
1. Interval scale: data can be arranged in an ordering scheme and subtracting its differences is meaningful. Examples are year, temperature, time etc.
2. Ratio scale: data can be arranged in an ordering scheme and subtracting its differences is meaningful with respect to the value of true zero. Examples are height, price, weight, distance etc.
3. Ordinal scale: data can be arranged in an ordering scheme but subtracting its differences is meaningless or impossible. Examples are happy, sad etc.
4. Nominal scale: it is characterized by data that are non-numerical, comprises of categories, labels or names and can't be arranged in an ordering scheme.
<em>Hence, scales can represent;</em>
<em>a. A range of information. </em>
<em>b. A range of resources. </em>
<em>c. Proportional measurement. </em>
