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Published in:
Household Expenditure Read chapter Read first chapter

2014 | OriginalPaper | Chapter

2. Variables, a Short Taxonomy

Author : Shapoor Vali

Published in: Principles of Mathematical Economics

Publisher: Atlantis Press

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Abstract

A phenomenon that changes over time, space, objects, or living things is called a variable. If a variable’s changes could be measured, that is, expressed by numbers or quantities, then we have a quantitative variable; otherwise, we have a qualitative variable. Blood pressure is an example of a quantitative variable—because it takes different values from individual (living thing) to individual. It can be measured, and has its own scale of measurement.

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previous chapter Household Expenditure
next chapter Sets and Functions
Footnotes
1
There are many other measurement systems in the world. Metric and English systems are by far the most widely used.
 
2
For a formal presentation of time series variables see Chap. 11 “Economics Dynamics and Difference Equations”.
 
3
The Octal (base 8) system has 8 digits 0, 1, ..., 7. The Binary (base 2) system has only two digits, 0 and 1.
 
4
See Chap. 3 for a formal discussion of set and related topics.
 
Metadata
Title
Variables, a Short Taxonomy
Author
Shapoor Vali
Copyright Year
2014
Publisher
Atlantis Press
Book
Principles of Mathematical Economics

Print ISBN: 978-94-6239-035-5

Electronic ISBN: 978-94-6239-036-2

Copyright Year: 2014

DOI
https://doi.org/10.2991/978-94-6239-036-2_2