The Concept That a Dollar Received Today Has More Value

question 55

Short Answer

The concept that a dollar received today has more value than a dollar received in the future because of the interest it can earn is called the ________.

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Definitions:

Utilitarianism

An ethical theory that posits the best action is the one that maximizes utility, usually defined as that which produces the greatest well-being of the greatest number of people.

Virtue Ethics

An ethical theory that emphasizes virtues of mind, character, and sense of honesty as the basis for morality.

Ethics of Care

A normative ethical theory that emphasizes interpersonal relationships and compassion as foundational to moral action.

Psychological Egoism

The theory that suggests that all human actions are motivated by self-interest, even in what seem to be acts of altruism.