The economic principle of Time
Preference states that people prefer to
have something today rather than have
the same thing tomorrow. Which of the
following examples illustrates this?
A. preferring to have no oranges today and having two
tomorrow
B. preferring one orange today rather than one apple
tomorrow
C. preferring one orange today rather than one orange
tomorrow
C. Preferring one orange today rather than one orange tomorrow. The principle says “something today”, which is the orange, and “rather than the same thing tomorrow”, meaning people would prefer not to have another orange tomorrow.
