Question 2
Basic ConceptsScale of preference refers to
- A.consumers preference for luxury goods
- B.the household monthly income
- C.list of goods and services in order of priority
- D.budget preparation without paying due regard to priority
Show the answer and explanation
Answer: C (list of goods and services in order of priority)
Explanation
A scale of preference is a list of wants arranged in order of importance, so the most pressing are satisfied first.