what is Cardinal and ordinal ?
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Heya...
Cardinal and ordinal are two measurements to analysis the utility...
Cardinal... It measured Utility in terms of utiles as 1 utile , 2 utile etc
Example,, If a consumer is taking 2 units of a commodity and it is giving the satisfaction in utiles which is 6 utile..... ....
Ordinal... It said that Utility can't be measured in numbers but only can be ranked as high or low satisfaction
Example... Practically we can't measure that 1 cup if tea is giving how much satisfaction only can say 1 cup of tea is more satisfying than 1 cup of coffee.....
Cardinal and ordinal are two measurements to analysis the utility...
Cardinal... It measured Utility in terms of utiles as 1 utile , 2 utile etc
Example,, If a consumer is taking 2 units of a commodity and it is giving the satisfaction in utiles which is 6 utile..... ....
Ordinal... It said that Utility can't be measured in numbers but only can be ranked as high or low satisfaction
Example... Practically we can't measure that 1 cup if tea is giving how much satisfaction only can say 1 cup of tea is more satisfying than 1 cup of coffee.....
jannatkhan51:
hello
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Cardinal and Ordinal Numbers Chart. ACardinal Number is a number that says how many of something there are, such as one, two, three, four, five. AnOrdinal Number is a number that tells the position of something in a list, such as 1st, 2nd, 3rd, 4th, 5th etc.
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