NABTEB Economics 2022 Objective — Question 1

Question 1 of 50 from the National Business and Technical Examinations Board (NABTEB) Economics 2022 Objective paper, with the correct answer and a full explanation.

Scale of preference shows

A. incomes of consumers in order of size
B. utilities enjoyed by consumers
C. opportunity cost of goods consumed
D. consumers' wants in order of priorityCorrect

Explanation

The scale of preference is a list of wants arranged in order of relative importance/priority; it helps in rational choice and minimizing waste of resources.

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