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3 years ago

What is the difference between ordinal utility and cardinalutility?

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 .

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When you purchase a u.s. savings bond, you are loaning money to the government.'?

svlad2 [7]

The correct answer is true.

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3 years ago

CONSIDER a JOB THAT PAYS 100,000 PER YEAR. FEDERAL INCOME TAX IS 19% AND STATE INCOME TAX IS 7% WHAT IS THE ANNUAL TOTAL OF THE

FrozenT [24]

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2 years ago

A banker's acceptance A. is a draft drawn on a bank and paid by that bank when presented to it. B. may be accepted by the bank f

bulgar [2K]

Answer: Option (D) is correct.

Explanation:

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2 years ago

Choose all that apply. Select all of the tools you could use to track your expenses.

fgiga [73]

Answer:

budget software

spreadsheet

Mint©

Mvelopes®

Explanation:

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3 years ago

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Keith_Richards [23]

Answer:

C. to improve control of monetary policy and to increase the information available to investors.

Explanation:

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2 years ago

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

What is the difference between ordinal utility and cardinalutility?