In: Economics
The four scales of measurement are nominal, ordinal, interval, and ratio.
Nominal: Categorical data and numbers that are simply used as identifiers or names represent a nominal scale of measurement.For example - Number of different HIV yields used in agrilculture by farmers.
Ordinal: An ordinal scale of measurement represents an ordered series of relationships or rank order. Individuals competing in a contest may be fortunate to achieve first, second, or third place. Example - While selling stock of farmer , each packet is arranged in order .
Interval: A scale which represents quantity and has equal units but for which zero represents simply an additional point of measurement is an interval scale. Example - Interval of rainfall that will impack the agriculture .
Ratio: The ratio scale of measurement is similar to the interval scale in that it also represents quantity and has equality of units.Example - Ratio of Amount of Rabi crop grown by farmer as compared to kharif crops .