1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
shepuryov [24]
3 years ago
7

What is the difference between ordinal utility and cardinal​utility?

Business
1 answer:
Andrews [41]3 years ago
8 0

Answer:

E. a ranking of market baskets in order of most to least​ preferred, while cardinal utility indicates how much one market basket is preferred to another.

Explanation:

Ordinal utility can be defined as an economic concept in which the consumer chooses a product or service from the market based on preferences in relation to another at a comparative level, but not exactly quantified.

In cardinal utility, on the other hand, the consumer is able to quantify the benefits perceived in a product or service with specific values, and this measure is beneficial to specify, for example, a choice based on price and utility for the consumer, which helps in the purchase decision process .

You might be interested in
Which of the following is an example of pretexting? A. A person accessing your email account without permission B. A person stea
valentina_108 [34]
D. A person calling and pretending to be an employee from your bank.
5 0
3 years ago
Kamal reproduces Lorena’s copyrighted work "Musica" without paying royalties. Kamal is most likely excepted from liability for c
Usimov [2.4K]

Answer:

Option B                                      

Explanation:

In simple words, Fair use refers to the one of the patent protections designed to align the rights of copyright owners with that of the public's best interest in the broader dissemination and use of artistic works by enabling such restricted uses that would otherwise be deemed infringing complaints as a protection against copyright violation.

Thus, from the above we can conclude that the correct option is B .

5 0
3 years ago
According to the classical economists, if the quantity of money that people wanted to save was greater than the amount that peop
boyakko [2]

Answer:

The correct answer that fills the gap is: Fall.

Explanation:

The paradox of saving or paradox of frugality or paradox of austerity suggests, according to the Keynesian economic aspect, that if all the inhabitants try to save more, that is to say to dedicate to saving a greater percentage of their income, the aggregate demand will fall, the production will fall and the total population savings will be equal or lower.

The explanation of the paradox is because the total income of the population (Y) is equal to the sum of the income of its individuals. Since personal income can be used for consumption or savings, and that consumption forms an essential part of aggregate demand - which finances global income through income and wages - if the percentage of savings increases, logically consumption will decrease , so that aggregate demand will decrease further and, consequently, global income, which will cause personal income to fall. When personal income or income falls, each individual will have to dedicate a greater percentage of their income to save in order to continue saving the same in absolute terms. This will further reduce their consumption (already reduced by the fall in income) so that income will be even more reduced and so on to the point that some or many must use their savings in order to solve the decrease in income.

------

NOTE: If you need to extend the explanation given, you can make a comment or add a new question. I will be very pleased to help you.

8 0
3 years ago
What type of economy is the South African economy?<br>​
Kobotan [32]

Answer:South Africa has a mixed economy in which there is a variety of private freedom, combined with centralized economic planning and government regulation.

Explanation:

3 0
2 years ago
Read 2 more answers
Which of the following would not be used to create a personal balance sheet?
My name is Ann [436]
The right answer for the question that is being asked and shown above is that: "b. Personal financial management software" Among the choices that would not be used to create a personal balance sheet is that <span>b. Personal financial management software</span>
4 0
3 years ago
Other questions:
  • 1. ________ dictate the terms and conditions state governments would have to meet in order to qualify for financial assistance i
    13·1 answer
  • What is the fourth part to property rights?
    10·1 answer
  • In a particular labor market, the demand for labor is given by W = 20 – (1 / 100)L, and the supply of labor is given by W = 4 +
    15·1 answer
  • Alex and Becky Fogarty live in Swarthmore, PA. Becky's father, Clancy, lives in Sweden.
    8·1 answer
  • On September 1, Year 1, West Company borrowed $50,000 from Valley Bank. West agreed to pay interest annually at the rate of 6% p
    8·1 answer
  • WebHelper Inc. acquired 100% of the outstanding stock of Silicon Chips Corporation (SCC) for $45 million, of which $15 million w
    12·1 answer
  • Which of the following are NOT required for use of the rental real estate safe harbor?
    14·1 answer
  • Your firm uses half debt and half equity. The shareholders need to earn 20%. The firm can borrow at 5%. The risk free rate is 2%
    10·1 answer
  • What federal agency or agencies is/are responsible for: _______
    8·1 answer
  • Suppose that the market for painting services is perfectly competitive. Painting companies are identical; their long-run cost fu
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!