Preference (economics)

 In economics and other social sciences, preference is the order that a person gives to alternatives based on their relative utility, a process which results in an optimal


In economics and other social sciences, preference is the order that a person gives to alternatives based on their relative utility, a process which results in an optimal "choice". Instead of the prices of goods, personal income, or availability of goods, the character of the preferences is determined purely by a person's tastes. However, persons are still expected to act in their best interest.
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