Which of the following best defines the scale o... - SS1 Economics Concepts Of Wants, Scarcity, Scale Of Preference, Choice And Opportunity Cost Question
Which of the following best defines the scale of preference?
A
The desires or needs of individuals for goods and services that can satisfy their needs or make them happier.
B
The list of wants or needs that an individual has, arranged in order of priority.
C
The situation where the available resources are limited in relation to the wants or needs of individuals.
D
The act of selecting one option from several available alternatives.
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Correct Option: B
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