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The Tendency for People to Place Greater Weight on the Present

question 159

Multiple Choice

The tendency for people to place greater weight on the present over the future in decision-making is known as ____.


Definitions:

Price

The financial sum foreseen, obligatory, or handed over as compensation for something.

Percentage Of Budget

A financial metric that represents the proportion of a specific item or category's cost in comparison to the total budget.

Price Elastic

A term related to price elasticity of demand, indicating how responsive the quantity demanded of a good or service is to a change in its price.

Product

Anything that can be offered to a market to satisfy a want or need, including goods, services, and ideas.

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