Short note on value of time
Answers
Answer:
Value of time. In transport economics, the value of time is the opportunity cost of the time that a traveler spends on his/her journey. In essence, this makes it the amount that a traveler would be willing to pay in order to save time, or the amount they would accept as compensation for lost time.
Time is precious and priceless for everyone, so we never waste time. ... So, we should never spend our precious and priceless time without purpose and meaning at any stage of our life. ... How can the time value of money be explained in simple terms?
Answer:
If we have lost our time, we have lost everything. Most of the people value their money more than the time however it is true that nothing is as valuable as time. It is time which gives us money; prosperity and happiness however nothing in this world can give time. Time can only be used; one can never buy or sell it.