Scale of preference (hierachy of human wants).

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This is an order on which human wants are satisfied.at the top are the most pressing needs while at the bottom are the less pressing wants.

NB.Different people differ in terms of preferences. When given the same resources at their disposal and have to prepare a scale of preference, then the order or arrangement will be different. This is because what appears to one individual to most pressing want to another individual may be less important.



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