Question

Which of the following illustrates the concept of delay of gratification?

a. preferring $500 now rather than $1,000 dollars one year from now
b. preferring $1,000 one year from now rather than $500 now
c. preferring a 1-in-1,000 chance at $10,000 rather than $10 for certain
d. preferring $10 for certain rather than a 1-in-1,000 chance at $10,000

i chose answer B. because you would be waiting a year to receive your long waited reward. i don't know what C. means, i don't know if that would be a good or bad thing? Please help me out!

Answer 1

I think b is the correct choice. c is a gamble for a 1 in 1,000 chance might mean nothing (and my luck would be nothing).

Answer 2

If it helps to have a second opinion, I agree with <B>DrBob222</B>.

Thanks for asking.

Answer 3

i think the answer of the question is B