A commercial poultry farmer operating under a strict budget constraint needs to construct a scale of preference to guide farm expenditure. Arrange the following financial needs in order of priority, from the most urgent (highest priority) to the least urgent (lowest priority).
- 1Purchasing essential livestock vaccines and feed to prevent disease outbreak and starvation
- 2Repairing damaged feeding troughs and water supply pipes in the poultry pens
- 3Installing automated lighting timers to extend laying hours and boost egg production
- 4Repainting the farm's administrative office block and exterior boundary fence
Answer
The correct priority sequence from most urgent to least urgent is: Purchasing essential livestock vaccines and feed, followed by Repairing damaged feeding troughs and water supply pipes, then Installing automated lighting timers, and finally Repainting the administrative office block and exterior boundary fence.
A rational economic producer constructs a scale of preference by arranging needs according to urgency and utility. Livestock feed and vaccines ensure immediate survival and prevent catastrophe, making them the most pressing need. Maintaining basic operational equipment like feeding troughs comes next to sustain production. Productivity-enhancing technologies like lighting timers follow as secondary growth objectives, while cosmetic items like office painting carry the lowest urgency.
Step-by-Step Solution
Key Concept
Scale of Preference and Urgency of Wants