Ranking is the method use in measuring
...Ranking is the method use in measuring
marginal utility
Ordinal utility
Cardinal utility
Total utility
Correct answer is B
In ordinal utility, the satisfaction a consumer obtains after consuming various commodity cannot be measured in numbers, but can be ranked in order of preference. Ordinal utility uses rankings instead of values.
Information about new goods is passed on to buyers through ...
Which of the following items is not an example of circulating capital? ...
Which of the following constitute the major components of money supply in a development economy? ...
Provision of services is classified under ...
Economic growth is different from economic development because economic growth ...
In the equation MV = PT; V stand for ...