Distinguish between cardinal and ordinal measurement of utility

1.	Distinguish between cardinal and ordinal measurement of utility
Answer» \tBasisCardinal UtilityOrdinal UtilityMeaningIt explains that the satisfaction level after consuming a good or service can be scaled in terms of countable numbers.It explains that the satisfaction after consuming a good or service cannot be scaled in numbers, however, these things can be arranged in the order of preference.ExampleSam submits pizza gives him 60 utils of satisfaction whereas burger gives only 40 utils.Sam submit, he gets more satisfaction from Pizzas as compare to the burger.Measurement‘Utility’ is measured on the basis of ‘utils’‘Utility’ is ranked on the basis of “satisfaction”RealisticIt is less practical.It is more practical and sensible.Used byThis theory was applied by Prof. MarshallThis theory was applied by Prof. J R Hicks\t<br>What precaution needed in secondary data

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