What is ordinal and cardinal?

Answer 1

AnswerOrdinal numbers indicate the order or rank, such as first, second, .... Cardinal numbers, on the other hand, tell about the count or the amount, such as one car, 2 cars, and so on.

The above can be interpreted backwards and is therefore confusing. Only ordinal notions lead to count and amount. A cardinal number can be used to indicate place or position in a defined order, but is neither additive nor ordinal as is counting up 1 car and 2 cars and 3 cars, ... to n cars.

Consider "cardinal" to be the labeling or naming use of a number. The cardinal notion of number is like calling the number as a name.

For example, we call city streets by number names like first street or 1st street, and second street or 2nd street, etc. In an ordinal sense 1 + 2 = 3. In a cardinal sense 1st street and 2nd street do not have any additive function. Adding first street to second street does not give you third street.

The numbers used for city street naming are cardinal numbers and carry no ordinal function or quality. Even though they might express some kind of ordering of the streets, there is no count and no amount of streets obtainable by computing the cardinal signs.

Answer 2

Ordinal utility..

Ordinal utility theorystates that while the utility-4of a particular good-economics-and-accountingand service cannot be measured using a numerical scale, different alternatives can be ordered into worse, equal or better. Goods are often considered in 'bundles' or 'baskets'.

In ordinal utility approach a consumer gets equilibrium at the point where his budget line touches to his highest indifference curve.Sunny