What is the basic difference between cardinal and ordinal approaches of utility?​

Cardinal utility is the utility wherein the satisfaction derived by the consumers from the consumption of good or service can be measured numerically. Ordinal utility states that the satisfaction which a consumer derives from the consumption of product or service cannot be measured numerically.

Explanation:

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Cardinal utility is a function that determines the satisfaction of a commodity used by an individual and can be supported with a numeric value. On the other hand, ordinal utility defines that satisfaction of user goods can be ranked in order of preference but cannot be evaluated numerically

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