Economics B A-Level
Consumer preferences
What Consumer preferences means in Economics B A-Level, as defined for Pearson Edexcel.
Definition of Consumer preferences
Check what you remember
Read the wording for your board, then hide it and explain Consumer preferences in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: Pearson Edexcel
The pattern of what people want, which changes over time and requires firms to continuously adapt their production structures.
Topics that use Consumer preferences
- Productive and allocative efficiency (Pearson Edexcel A-Level)
Related terms
- Allocative efficiency
- Labour productivity
- Market interrelationships
- Market orientation
- Opportunity cost
- Productive efficiency
- Trade-offs
- Human capital investment
Using Consumer preferences in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
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