What is the difference between ordinal and cardinal measurement? ...

[deesands]

What is the difference between ordinal and cardinal measurement?
 
  What will be an ideal response?

Question 2

The absolute value of the slope of an indifference curve equals the ratio of the marginal utilities of the two goods involved.
 
  Indicate whether the statement is true or false

[cclemon1]

Answer to Question 1

Prices are measured in money, which is a cardinal measure. When you have 100 you are twice as well off compared to having 50. With an ordinal measure like an exam grade you can say that an A is better than a B but not how much better it is.

Answer to Question 2

True . The MRS can be represented as the ratio of both those quantities.