1. Shirt
2. Book
3. A pair of Shoes
4. A pair of Trousers
5. A Travel Bag
From the above imaginary list, Shirt is the most important. That is why it ranks first. Hence, it must be purchased first before any other items in that list.
Tuesday, 12 February 2013
SCALE OF PREFERENCE
A scale of preference is any arrangements of the wants
of individuals, firms or governments according to their importance. The scale of preference is just an imaginary
list that exists in the minds of individuals, firms or governments. An
imaginary list can be in this form:
1. Shirt
2. Book
3. A pair of Shoes
4. A pair of Trousers
5. A Travel Bag
From the above imaginary list, Shirt is the most important. That is why it ranks first. Hence, it must be purchased first before any other items in that list.
1. Shirt
2. Book
3. A pair of Shoes
4. A pair of Trousers
5. A Travel Bag
From the above imaginary list, Shirt is the most important. That is why it ranks first. Hence, it must be purchased first before any other items in that list.
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