Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cardinal measurements (such as weight in grams) are important to scientists because they represent a value that can be mathematically manipulated. Ordinal measurements represent a

Cardinal measurements (such as weight in grams) are important to scientists because they represent a value that can be mathematically manipulated. Ordinal measurements represent a ranking or preference. Utility is an ordinal concept. It cannot be measured, but consumers can rank preferences for various economic goods. You can rank your preferences for consumer goods, but societal preferences are not so easily determined.

Rank your preferences and then discuss society's preferences for (1) national defense, (2) campaign finance reform, (3) police protection, (4) NFL football and (5) aid to the poor. Include your ideas for ranking these issues the way that you have.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Democracy And Public Administration

Authors: Richard C Box

1st Edition

1317473213, 9781317473213

More Books

Students also viewed these Economics questions

Question

2. Find five metaphors for communication.

Answered: 1 week ago