Question

Ordinal concept of utility expresses utility in terms of __________.

• A. units
• B. level of satisfaction
• C. constants
• D. none of the above

Answer 1

The correct option is B level of satisfaction

In ordinal concept of utility, utility is ranked in the order of preference of the consumer. Utility cannot be measured in cardinal numbers in ordinal utility theory. Ordinality means that utility can be ranked.