Question

distinguish between cardinal and ordinal measurment of utility
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Answer 1

Explanation:

cardinal measurment :-

Cardinal utility is the utility wherein the satisfaction derived by the consumers from the consumption of good or service can be measured numerically. 2. Ordinal utility states that the satisfaction which a consumer derives from the consumption of product or service cannot be measured numerically.

ordinal measurment :-

Ordinal utility states that the satisfaction which a consumer derives from the consumption of product or service cannot be measured numerically. 3. Cardinal utility measures the utility objectively, 4. Whereas there is a subjective measurement of ordinal utility.

Answer 2

Explanation:

ANSWER

Cardinal utility theory states that utility or satisfaction derived from a commodity can be measured in cardinal numbers like, 1, 2, 3. Cadinality means that utility can be measured in numbers.

Ordinal utility theory states that utility cannot be measured, it can only be ranked or ordered according to the preference of the consumer. Ordinality means that utility can be ranked.