Utility of a commodity is its want satisfying capacity. The utility can be expressed in terms of numbers. This analysis is known as :

Cardinal Utility Analysis

The correct answer is option (3) : Cardinal Utility Analysis

Cardinal utility analysis assumes that level of utility can be expressed in numbers. For example, we can measure the utility derived from a shirt and say, this shirt gives me 50 units of utility. Before discussing further, it will be useful to have a look at two important measures of utility.