All categories

2 years ago

What is the basic difference between cardinal and ordinal approaches of utility?

Business

1 answer:

Natasha2012 [34]2 years ago

3 0

Answer:

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

Explanation:

hope this helps you.

You might be interested in

The treasurer of a major U.S. firm has $29 million to invest for three months. The interest rate in the United States is .29 per

7nadin3 [17]

Answer:

Check the following calculations.

Explanation:

The U.S. firm has $29 million

Investment is for three months

And the interest rate in the United States is .29 percent per month

The value of the investment if the money is invested in U.S

= $29 million *(1+ 0.29%) ^3

= $29.2530 million

The interest rate in Great Britain is .33 percent per month.

The spot exchange rate is £.629

And the three-month forward rate is £.632.

The value of the investment if the money is invested in Great Britain

Value after spot exchange = $29 million *(£.629/$1) = £ 18.241 million

Value after three months interest earning = £ 18.241*(1+0.33%) ^3

= £ 18.4222 million

Exchanging again in US $ after 3 months

= £ 18.4222 *($1/£ .632) = $29.1490 million

Therefore the value of the investment if the money is invested in Great Britain is $29.1490 million.

The value of investment will be more if the money is invested in U.S.

6 0

2 years ago

Which of the poeple or insittiuations listed exercises the msot power over the quantity of money in the united states economy?

givi [52]

The United States has issued a variety of currency notes for use in paying income tax, making investments, and making purchases from colonial to current times. Alexander Hamilton establishes the Bank of the United States in order to create a system of credit for the government.

<h3>What does an increase in labor efficiency mean?</h3>

favorable change If the labor efficiency variance is in the company's favor, it means that the workforce is operating as it should and that the number of hours it spends producing is in line with the business's planned criteria.

<h3>What do the symbols on Continental currency designs represent?</h3>

In a number of designs of Continental Currency, the thirteen colonies that battled and vanquished Great Britain during the American Revolution are shown. These representations represent the aspirations and virtues of the colonies.

Learn more about banknotes:

brainly.com/question/15795738

#SPJ4

8 0

1 year ago

Is ordering a pizza for someone else illegal?

Over [174]

No, its not illegal to order a pizza for someone else

4 0

3 years ago

At the end of the month, Brown Co.'s petty cash fund contains $4 in cash and receipts for postage of $50 and delivery expenses o

aleksandr82 [10.1K]

The answer is C there ya go I hope it’s right

8 0

3 years ago

Lori prefers to purchase cosmetics at self-service drug stores as saleswomen at cosmetic counters in department stores intimidat

Stells [14]

Answer: Social comparison

Explanation:

The social comparison is one of the important theory in the society which state that the individual person can determine their own personal and the social importance by comparing their own qualities with the other people. The coal comparison is mainly proposed by the Leon festinger in the year 1954.

According to the given scenario, the self evaluation is basically conducted by the Lori is best illustrate example of the social comparison as people generally compared themselves with the other people for the purpose of self motivation and improvement.

Therefore, Social comparison is the correct answer.

8 0

3 years ago

What is the basic difference between cardinal and ordinal approaches of utility?​

What is the basic difference between cardinal and ordinal approaches of utility?