Answer to Question #304673 in Microeconomics for Mwaka Kanyanta

Question

Demonstrate how intra and inter temporal choices 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 opportunity. A preference of focusing on current consumption leads to many individuals to make intertemporal choice that accommodate near term needs and wants