Time preference is the desire to:
A) save for a time when income will be reduced.
B) have goods and services sooner rather than later.
C) maximize return on investment in the shortest amount of time.
D) increase longevity in order to have a greater income.

Question

Quizplus · Accepted Answer

Time preference refers to the tendency of people to prefer an immediate benefit or satisfaction over future benefits or satisfactions. Therefore, the desire to have goods and services sooner rather than later is the best choice as it represents the main characteristic of time preference. The other options are not related to time preference.

Time Preference Is the Desire To