What concept would be most consistent with the observation that people tend to be impatient and typically prefer to consume things in the present rather than the future?
A) future value
B) present value
C) time preference
D) market portfolio

Question

Quizplus · Accepted Answer

Time preference is the concept that individuals place more value on present consumption compared to future consumption due to their impatience. Future value and present value are related to the valuation of investments, not consumption. Market portfolio refers to a collection of investments held by an individual or an institution.

What Concept Would Be Most Consistent with the Observation That