True or False: Time is a significant factor affecting the value of resources.

Prepare for the PGA PGM 3.0 Level 1 Knowledge Test with engaging quizzes. Study with flashcards and multiple choice questions. Get insights into exam content and format. Master every subject to succeed!

Time plays a crucial role in determining the value of various resources. This is particularly evident in contexts like investment, where the time value of money asserts that a dollar today is worth more than a dollar in the future due to its potential earning capacity.

In terms of natural resources, their availability and value can fluctuate over time due to factors such as depletion, demand shifts, and changes in technology. For human resources, the timing of an individual's contributions and skill development can also impact their value within an organization.

While some options propose more nuanced views—like the idea that it depends on the resource or is only relevant for financial resources—time is fundamentally a key factor affecting the value of all types of resources, whether economic, natural, or human. Thus, affirming that time is indeed a significant factor affecting resource value is accurate.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy