The information that rank a consumer preferences is given by?

A. Scale of preference
B. Indifference map
C. Demand schedule
D. Supply schedule

Correct Answer:

Option A – Scale of preference

Explanation

An indifference map represents different quantities of two goods between which a consumer is indifferent. this means that, the consumer has no preference for one combination or bundle of goods over a different combination.

While scale of preference refers to the arrangement or ranking of a consumer wants in the order of imortance or urgency.