The concept of 'Time Preference' is related to the theory of:
A. Profit
B. Interest
C. Rent
D. Wages
Answer: Option B
Solution (By JKSSB Mock Tests)
The time preference theory of interest (associated with Böhm-Bawerk and others) explains interest as arising from the preference for present goods over future goods.
No comments yet. Be the first to start the discussion!