The idea that all potentially available alternatives can be ordered according to a consumer's preferences is called:
A) the consumption principle.
B) the ranking principle.
C) the choice principle.
D) the more-is-better principle.

Question

Quizplus · Accepted Answer

The idea that all potentially available alternatives can be ordered according to a consumer's preferences is called the ranking principle. This principle assumes that consumers have well-defined preferences and can rank all possible alternatives based on those preferences. The other options listed are not applicable or relevant to this concept.

The Idea That All Potentially Available Alternatives Can Be Ordered