| 单词 | personal preferences |
| 释义 | personal preferences Individual tastes, as regards both consumption and work. No two individuals are precisely the same in their choices between the available goods and services to consume and work to perform. This means that it is not possible to find a utility function which will predict what every individual will do in response to any given set of prices and wage rates. Industry demand curves for goods and supply curves of labour are based on the average behaviour of large numbers of individuals, not on precise observation of a uniform behaviour pattern. The existence of innumerable idiosyncratic differences between individuals is a strong argument for making use of the price mechanism in distributing goods and tasks between them. |
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