Encyclopedia > O > Ordinal utility


Ordinal utility



Ordinal utility theory states that while the utility of a particular good and service cannot be measured using an objective scale, a consumer is capable of ranking different alternatives available. Goods are often considered in ‘bundles’ or ‘baskets’.



Information are taken from Wikipedia, the open encyclopedia, to which contribute many volunteers from around the whole world. Texts are available under the following conditions GNU Free Documentation License.

Encyklopedie (cz) Encyklopédia (sk) Enzyklopädie (de)


en