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In economics and other social sciences , preference refers to the set of assumptions related to ordering some alternatives, based on the degree of happiness , satisfaction, gratification , enjoyment, or utility they provide, a process which results in an optimal " choice " whether real or imagined. Although economists are usually not interested in choices or preferences in themselves, they are interested in the theory of choice because it serves as a background for empirical demand analysis.


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  • Preference | Definition of Preference by Merriam-Webster.

Brand preference is strongly linked to brand choice that can influence the consumer decision making and activate brand purchase. In Insolvency, the term can be used to describe when a company pays a specific creditor or group of creditors. From doing this, that creditor s is made better off, than other creditors. After paying the 'preferred creditor', the company seeks to go into a formal insolvency like an administration or liquidation. There must be a desire to make the creditor better off, for them to be a preference. If the preference is proven, legal action can occur.

It is a wrongful act of trading.

preference - Wiktionary

Disqualification is a risk. From Wikipedia, the free encyclopedia. This article is about the psychological term.

For other uses, see Preference disambiguation. For information about user preferences on Wikipedia, see Help: Preferences , or to view and modify your preferences on Wikipedia, go to Special: Post-decision changes in desirability of choice alternatives.

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Journal of Abnormal and Social Psychology, 52, How explicit choices can implicitly shape preferences for odors. Psychological Science, 21, Examples of preference in a Sentence Car buyers have recently shown a growing preference for smaller vehicles. When it comes to music, everyone has their own preferences.

Some people like small cars and some people like big cars. It's a matter of personal preference. She listed her favorite restaurants in order of preference. He has tried not to show preference in giving out jobs. The policy of the school is to give preference to minority candidates.

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I don't have a preference. Recent Examples on the Web President Trump has voiced his preference for lower crude prices, pressuring large oil producers over Twitter throughout the year to increase output. First Known Use of preference , in the meaning defined at sense 1a. History and Etymology for preference Middle English preferraunce , from Middle French preferance , from Medieval Latin praeferentia , from Latin praeferent-, praeferens , present participle of praeferre.

Learn More about preference. Resources for preference Time Traveler! Explore the year a word first appeared. Dictionary Entries near preference preferable preferableness preferably preference preference stock preferendum preferent.

Phrases Related to preference in preference to. Time Traveler for preference The first known use of preference was in See more words from the same year. English Language Learners Definition of preference. Kids Definition of preference.


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More from Merriam-Webster on preference Rhyming Dictionary: Words that rhyme with preference Thesaurus: All synonyms and antonyms for preference Spanish Central: Translation of preference Nglish: Translation of preference for Spanish Speakers Britannica English: Translation of preference for Arabic Speakers Britannica. Comments on preference What made you want to look up preference?

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