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The economic principle of Time Preference states that people prefer to have something today rather than have the same thing tomorrow. Which of the following examples illustrates this? A. preferring to
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The economic principle of Time

Preference states that people prefer to
have something today rather than have
the same thing tomorrow. Which of the
following examples illustrates this?

A. preferring to have no oranges today and having two
tomorrow

B. preferring one orange today rather than one apple
tomorrow

C. preferring one orange today rather than one orange
tomorrow

Pls help with this answer

User Jnns
by
7.9k points

1 Answer

6 votes
C. Preferring one orange today rather than one orange tomorrow.
The principle says “something today”, which is the orange, and “rather than the same thing tomorrow”, meaning people would prefer not to have another orange tomorrow.
User Daryl Van Sittert
by
8.0k points
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