1. Local objects will always be accessed first.
2. If a local object does not exist, the object with a private synonym will be accessed.
3. If a private synonym does not exist or the object does not exist, then the public synonym will be used.
Note that a synonym can be created for an object that does not exist, and an object with an associated synonym can be dropped without removing the synonym. This can cause all sorts of interesting problems for DBA’s, so be careful.
