pref·er·ence

[pref-er-uhns, pref-ruhns]
noun
1.
the act of preferring.
2.
the state of being preferred.
3.
that which is preferred; choice: His preference is vanilla, not chocolate.
4.
a practical advantage given to one over others.
5.
a prior right or claim, as to payment of dividends or to assets upon dissolution.
6.
the favoring of one country or group of countries by granting special advantages over others in international trade.

Origin:
1595–1605; < Medieval Latin praeferentia. See prefer, -ence

non·pref·er·ence, noun
self-pref·er·ence, noun


3. selection, pick. See choice.
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2013.
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00:10
Preference is always a great word to know.
So is slumgullion. Does it mean:
a gadget; dingus; thingumbob.
a stew of meat, vegetables, potatoes, etc.
Collins
World English Dictionary
preference (ˈprɛfərəns, ˈprɛfrəns) [Click for IPA pronunciation guide]
 
n
1.  the act of preferring
2.  something or someone preferred
3.  law
 a.  the settling of the claims of one or more creditors before or to the exclusion of those of the others
 b.  a prior right to payment, as of a dividend or share in the assets of a company in the event of liquidation
4.  commerce the granting of favour or precedence to particular foreign countries, as by levying differential tariffs

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Etymonline
Word Origin & History

preference
1650s, "act of prefering," from prefer + -ence. Sense of "that which one prefers" is from 1864.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
We provide furnished housing as a choice of either an apartment or a villa
  depending on your preference.
Even rats with low preference for booze drank significantly less after
  treatment.
Preference will be given to candidates that can also teach genetics, cell
  biology and/or microbiology.
Preference will be given to those with established research programs.
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