Scale of preference - Jamb Economics Past Questions and Answers

Question 6:

• JAMB 1992

Scale of preference refers to?

A. Consumers preference for luxury goods
B. The household monthly income
C. List of goods and servicesin order of priority
D. Budget perparation without paying due regard to priority

Question 7:

• JAMB 1995

A student in Obu'pu Secondary School discovers that he simultaneously needs a pen, an exercise book, an eraser and a ruler, but that he can purchase only one of these items. What is the first thing he is expected to do?

A. Check how much he has
B. Find out which is the cheapest of the items
C. Draw up a scale of preference
D. Weigh the opportunity cost of each item against the other

Question 8:

• JAMB 1997

Ike's scale of preference reveals that he prefers bananas to pawpaw, pawpaw to oranges and oranges to bananas. Ike's preferences are therefore?

A. Inconsistent
B. Consistent
C. Transitive
D. Rational

Question 9:

• JAMB 2001

A consumer's scale of preference is an arrangement of his?

A. Scarce resources in order of importance
B. Needs in order of importance
C. Sources of income and their importances
D. Requirements and how to satisfy them