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Supply Curve in the Short Run and the Long Run

What is meant...

Question

What is meant by cardinal measurement of utility?

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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.

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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 -

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