Difference between cardinal and ordinal utility

1.	Difference between cardinal and ordinal utility
Answer» Differences between cardinal utility and ordinal utility are\tBasisCardinal UtilityOrdinal UtilityMeaningCardinal utility means that satisfaction can be measured in cardinal numbers such as 1, 2, 3 etc.Ordinal utility refers to satisfaction that cannot be measured in cardinal numbers and we just rank the scale of preferences and make use of ordinal numbers like 1st, 2nd,etc.Proposed byThis concept was proposed by Alfred Marshall.This concept was proposed by JR Hicks and Allen.RealisticCardinal utility is less realistic than ordinal utility.\xa0Ordinal utility is more realistic than cardinal utility.MeasurementUtility is measured in \'utils\'.Utility is ranked based on satisfaction.ExamplesUtility derived from the consumption of an apple is 6 utils.Utility derived from the consumption of bread is 10 utils.Strawberries gives more satisfaction than apples.Pen gives more satisfaction than pencils.\t

Discussion