Question

Is it true that the lower the nonmoney price for doing each of these activities , the more time you are willing and able to spend doing it ? Explain your answer.

Answer 1

Yes, it is true that the lower the nonmoney price for doing each of these activities, the more time you are willing and able to spend doing it.

Explanation:

• One of the nonmoney prices that is needed to be paid to do any activity is 'time' itself.
• When an activity needs to be given less time, we often choose not to refrain ourselves from doing that activity.
• The other nonmoney price that we pay is through commodities that we use for the activity. Hence, lower the consumption of any commodity for the activity, more would we be willing to do the activity.