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Distinguish between cardinal and ordinal measurement …

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Distinguish between cardinal and ordinal measurement of utility

Posted by Satender Kumar 6 years, 4 months ago

CBSE > Class 11 > Economics

2 answers

Yogita Ingle 6 years, 4 months ago

Basis	Cardinal Utility	Ordinal Utility
Meaning	It explains that the satisfaction level after consuming a good or service can be scaled in terms of countable numbers.	It explains that the satisfaction after consuming a good or service cannot be scaled in numbers, however, these things can be arranged in the order of preference.
Example	Sam submits pizza gives him 60 utils of satisfaction whereas burger gives only 40 utils.	Sam submit, he gets more satisfaction from Pizzas as compare to the burger.
Measurement	‘Utility’ is measured on the basis of ‘utils’	‘Utility’ is ranked on the basis of “satisfaction”
Realistic	It is less practical.	It is more practical and sensible.
Used by	This theory was applied by Prof. Marshall	This theory was applied by Prof. J R Hicks

Kailash Gope 6 years, 4 months ago

What precaution needed in secondary data

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