The Idea That Consumers Will Not Consistently Discount the Future

question 12

Multiple Choice

The idea that consumers will not consistently discount the future over time is known as ________.

• A)intertemporal choice
• B)tertiary inversion
• C)hyperbolic discounting
• D)antediluvian Machiavellianism

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Definitions:

Common Resource

A resource like air or water that is not owned by anyone, but its use is available to everyone, leading to potential overuse.

Consumption

Consumption refers to the act of using goods and services by households, contributing to the overall demand in an economy.

Availability

The condition of being accessible or obtainable.

Private Resource

Resources owned by individuals or companies, not by the government or public institutions.