What is difference between ordinal approach and cardinal approach?

1 answer

Answer

1237361

2026-07-29 05:21

+ Follow

In consumer behavior, the satisfaction that consumers get by consuming commodities is utility. A cardinalist thinks that utility can be measured, quantified, and expressed in quantitative terms. An ordinalist thinks that you cannot measure utility in quantitative terms.

ReportLike(0ShareFavorite

Copyright © 2026 eLLeNow.com All Rights Reserved.