1 Answer - Sort by: Date | Rating
Ordinal utility approach states that as the utility of a particular good or a service cannot be measured, a consumer is capable of ranking the different alternatives. The goods are often considered in 'bundles' for example, does individual A prefer 2 apples and 4 oranges or 2 oranges and 4 apples?
So when large number of baskets of goods are compared, the preferences of the individual can be seen in this approach.
So when large number of baskets of goods are compared, the preferences of the individual can be seen in this approach.
0
0
- Why Is The Online Safety?
- How Does Operations Department Help Organisations? What Do They Do To Help Meet Organisations' Objectives?
- Why Is Management Important?
- An Audit Is Essentially Unproductive And Contribute To Neither The Gross National Product Nor The General Well-being Of Society?
- How Does Tesco Organisational Structure Look Like?
- What Are Divisible Profit.Explain With Examples?
- What Is Culture? What Are Its Elements? How Does Culture Influence International Business?
- Climate And Environment Are Examples Of What Type Of Factors?
- What Political Factors Have Tesco Been Affected By?
- How To Identify The Visual Elements?
- Which Company Has Adopted Market Development Strategy?
- Discuss The Major Source Of Long Term Finance Available Business In Nigeria?
- I Am Looking For Comprehensive Data Management Strategy To Improve Operational Efficiencies. Please Help?
- How Many Languages Officials Are Spoke In Europe?
- What Is Meant By Business Trade?
- How Memory Management Process?
- How To Make A Background Thesis?
- How Can Define The Consumable And Non Consumable?
- Explain The Importance Of Project Planning?
- What Are The Cash Flow Problems?
- Identify Some Examples Of How Different Organizations Collaborate Across Boundaries?
- The Most Important Factor To Consider When Choosing The Job You Want?
- What Are The Aims And Objectives Of Dorothy Perkins?
- I Want To Know About My Job Since Last Two Year I Am On Backfoot & Tell Me About My Future. I Am Confused Now Whether I Have Continued In Job & I Shall Do Any Business. But I Don't Have Capital For It.i Belong To Middle Class Family?
- What Are The Characteristics Of The Traditional Model Of Public Administration?
New Comment - Comments are editable for 5 min.