JAMB Economics 2011 Objective — Question 12

Question 12 of 49 from the Joint Admissions and Matriculation Board (JAMB) Economics 2011 Objective paper, with the correct answer and a full explanation.

Ranking is the method used in measuring

A. A. ordinal utilityCorrect
B. B. cardinal utility
C. C. total utility
D. D. marginal utility

Explanation

The ordinal approach is one of the approaches used in determining the equilibrium of the consumer. It advocates ranking of utility, as opposed to the cardinalist approach which advocates measuring utility numerically.

Sign up free to unlock

Score tracking
Practice history
Saved questions
Progress dashboard
Personalized sessions
Weak-topic breakdown

…and/or go further with premium services and No Ads.

Create free account

More questions from Economics 2011 Objective More Economics past papers