A ratio can refer to two or more values. For example, the cars in my road are coloured red, black or blue in the ratio 2: 3: 7. A rate is used when only two measures are being compared.
Furthermore, in a rate, the second of two elements is usually set to be equal to 1. For example 20 kilometres in 40 minutes is the same ratio as 30 km in an hour but the second can be expressed as 30 km in ONE hour and so it is considered a rate.
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Rates are applicable to two variables and the second one is usually rescaled to 1. Ratios may be for several variables simultaneously and all of the components may be greater than 1.
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