Cardinal and ordinal approaches are related to theory of consumer behaviour. It is related to the utility of a commodity.. UTILITY of a commodity means want satisfying power of a commodity.. NOW acc. To the cardinal approach utility can be measured in absolute terms i.e; in terms of units of the commodity.. On the other … Read more

Acc. To Robbin's," Economics is the science which studies human behaviour as a relationship between ends and scarce scarce means which have alternative uses." Now if we see this definition we shall find it to have 3 fundamental propositions i.e; ends , scarce means and their alternative uses. "Ends" refers to human wants with are … Read more

Hi.. I would try to help you out but you should consult more expert people..             Cardinal and ordinal approaches both are related to the UTILITY of a commodity. As you know utility is the want satisfying capacity or ability of a commodity.. Now acc. To the cardinal approach utilities of 2 commodities … Read more