Match List-I with List-II.

Choose the correct answer from the options  given below

(A)-(III), (B)-(I), (C)-(II), (D)-(IV)

The correct answer is option (3) : (A)-(III), (B)-(I), (C)-(II), (D)-(IV)

(A) Utility -> (III) Wants satisfying power of a commodity: Utility refers to the satisfaction or benefit derived from consuming a good or service.

(B) Cardinal Utility -> (I) Which can be expressed: Cardinal utility is a measure of utility that can be expressed numerically, allowing for comparison between different levels of utility.

(C) Marginal Utility -> (II) Change in total utility due to additional consumption: Marginal utility is the additional satisfaction or utility gained from consuming one more unit of a good or service.

(D) Ordinal Utility -> (IV) Which cannot be expressed in quantitative term: Ordinal utility is the ranking of preferences or choices without assigning specific numerical values.