Answer: See explanation
Step-by-step explanation:
Scale of preference simply refers to how individuals list their wants in order of importance. The importance of the scale of preference include:
1. Scale of preference allows economic agents rank their wants based on how it's important to them.
2. It enables economic agents like individual and firms get maximum satisfaction that's utility with the scarce resources.
3. It brings about efficient utilization of the resources that are available.
4. It allows us make rational choice.
5. Scale of preference shows our wants and needs and allows us plan effectively in order to achieve them.