"If and only if between any two bundles, the consumer prefers the bundle which has more of at least one of the goods and no less of the other good as compared to the other bundle". Such preferences are known as

Monotonic Preference.

The correct answer is Option (1) → Monotonic Preference.

Monotonic preferences mean that a consumer always prefers a bundle that contains more of at least one good and no less of the other. In other words, more is always better — the consumer gains higher satisfaction from having a greater quantity of goods.