Question on: JAMB Economics - 2018

The scale of preference is constructed because of the fundamental economic problem of scarcity. Here's why: * **Scarcity:** Resources are limited, while wants are unlimited. This means we can't have everything we desire. * **Need for Choice:** Because of scarcity, we are forced to make choices about which wants to satisfy first. The scale of preference helps us prioritize our wants. * **Other options:** While scarcity of resources (D) is related to the answer, it is not as complete as the need for choice. The need to satisfy wants (B) is a consequence of scarcity and is not what necessitates the scale. Non-availability of factors of production (C) is related to the supply side, but not the demand side where the scale of preference is most relevant.