Ordinal Utility:
Ordinal utility is a concept in economics that measures the satisfaction or happiness an individual derives from the consumption of goods and services. It focuses on the rankings or preferences of individuals rather than their specific levels of satisfaction or utility. Ordinal utility is based on the assumption that individuals can rank their preferences and make choices accordingly.

Key Points:
- Ordinal utility is a subjective measure as it relies on individual preferences and rankings.
- It does not assign specific numerical values to utility.
- The theory of ordinal utility is based on the work of economists like Vilfredo Pareto and John Hicks.

Cardinal Utility:
Cardinal utility, on the other hand, is a concept that assigns numerical values to the satisfaction or utility derived from the consumption of goods and services. It attempts to quantify the level of utility an individual receives from different commodities. Cardinal utility assumes that satisfaction can be measured and compared across individuals.

Key Points:
- Cardinal utility is a more precise measure compared to ordinal utility as it assigns specific numerical values.
- It allows for comparing the levels of utility between different individuals.
- The concept of cardinal utility was popularized by economists like Alfred Marshall and Francis Ysidro Edgeworth.

Comparison:
- While ordinal utility focuses on preferences and rankings, cardinal utility assigns numerical values to utility.
- Ordinal utility is subjective and based on individual preferences, while cardinal utility aims to be more objective by quantifying utility.
- Ordinal utility is useful for analyzing consumer choices and demand patterns, while cardinal utility is more suitable for mathematical modeling and analysis.

Conclusion:
Ordinal and cardinal utility are two different approaches to measuring and analyzing utility in economics. While ordinal utility focuses on preferences and rankings, cardinal utility assigns numerical values to utility. Both concepts have their uses in understanding consumer behavior and making economic decisions.