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:

McClelland's Model

A psychological theory of motivation that asserts people are motivated by three primary needs: achievement, affiliation, and power.

Personal Relationships

Interpersonal connections formed between individuals based on shared interests, emotions, and other social commitments.

Esteem Needs

A higher-level requirement in Maslow's hierarchy of needs that includes the desire for respect, status, recognition, and self-esteem.

Maslow's Hierarchy

A theory in psychology proposing that people are motivated by five basic categories of needs: physiological, safety, love/belonging, esteem, and self-actualization, prioritized hierarchically.