Answer to Question #303744 in Economics for Bupe

Question

clearly demonstrate how intra and inter temporal choice models can make society incur an opportunity cost if not managed adequately and effectively ?

Answer 1

Intertemporal choice refers to decisions, such as spending habits, made in the near-term that can affect future financial opportunities. A preference for focusing on current consumption leads many individuals to make intertemporal choices that accommodate near-term needs and wants.