What is the concept that people would rather receive a given amount of money sooner rather than later?

Question

Quizplus · Accepted Answer

The concept that people would rather receive a given amount of money sooner rather than later is known as Time value of money. It is the concept that the value of money changes over time due to potential earning capacity, inflation, and other factors. It is why people prefer to receive money now rather than in the future as the money they receive now is worth more than the money they receive in the future.

What Is the Concept That People Would Rather Receive a Given