MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Supply Curve in the Short Run and the Long Run

What is meant...

Question

What is meant by cardinal measurement of utility?

Open in App

Solution

Cardinal measurement of utility refers to the measurement (or expression) of utility in terms of units like 2, 4, 6 and 8. Cardinality means that utility can be measured in numbers.

Suggest Corrections

thumbs-up

4

Similar questions

Q. What is meant by ordinal measurement of utility?

Q. Distinguish between cardinal and ordinal measurement of utility.

Q. The Cardinal Approach to Utility analysis assumes that Utility is measurable and quantifiable. This means_______.

Q. Utility can be measured cardinally.

Q. In economic theory, utility can be measured by -
1. Cardinal Approach
2. Ordinal Approach
Select the correct answer from the options given below -

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Building the Supply Curve

ECONOMICS

Watch in App

explore_more_icon

Explore more

Supply Curve in the Short Run and the Long Run

Standard XI Economics

Join BYJU'S Learning Program

CrossIcon