What is an example of a trade off?
Trade-off definitions. … The definition of trade off is an exchange where you give up one thing in order to get something else that you also desire. An example of a trade off is when you have to put up with a half hour commute in order to make more money.
What does a trade off mean?
A trade-off (or tradeoff) is a situational decision that involves diminishing or losing one quality, quantity or property of a set or design in return for gains in other aspects. In simple terms, a tradeoff is where one thing increases and another must decrease.
What is a trade off give at least one example?
Give at least one example. A trade-off is an exchange in which one benefit is given up in order to obtain another. Example: a material may be used to build a house because it is attractive to customers even though it is not as durable.
What are benefit trade offs?
Risk-benefit trade-off refers to the balance of negative and positive effects on achieving a goal, such as health. For medical decisions, a risk-benefit trade-off usually refers to the perception of the anticipated balance of improvements and deteriorations in health from a given choice.
What’s another word for trade off?
balance, set-off, disadvantage, contradiction, arbitrage, equilibrium, Equilibria, arbitrate, refereeing, ‘arbitrage, quandary, accommodation, trade, counterparty, agreement, setoff, trading, give-and-take, equalisation, conundrum, counterbalance, bargain, drawback, swap, adjudicative.
What are three examples of important trade offs that you face in your life?
Give three examples of important trade-offs that you face in your…
- Trade-off between studying one subject over studying another subject.
- Spending 15 dollars to buy a pizza or to buy a study guide.
- Buying a car leads to a trade-off between the cost of the car and the cost of other things one might want to buy.
Why are trade offs unavoidable?
Reduce prices and create jobs. This is the ideal economic outcome expected from all businesses today, not only in the long run, but also in the short term. Generally, lower prices allow more consumers to consume goods or services.
How do you use trade offs?
Trade-off sentence examples
- Jack had to make a trade-off between getting a good night’s sleep and staying up late to finish his research project. …
- Do you understand the inevitable trade-off between growth and equity? …
- Exercising and following a strict diet instead of eating junk food was a trade-off she was willing to make to get healthy.
Is trade off and opportunity cost the same?
Trade-offs create opportunity costs, one of the most important concepts in economics. Whenever you make a trade-off, the thing that you do not choose is your opportunity cost. To butcher the poet Robert Frost, opportunity cost is the path not taken (and that makes all the difference). … Everything has opportunity costs.
What is trade off and opportunity cost?
In economics, the term trade-off is often expressed as an opportunity cost, which is the most preferred possible alternative. A trade-off involves a sacrifice that must be made to get a certain product or experience. A person gives up the opportunity to buy ‘good B,’ because they want to buy ‘good A’ instead.27 мая 2015 г.
What trade offs are involved in buying a vehicle?
What are the trade-offs when buying a vehicle?
- Purchase price divided by annual income = 2.0 or less.
- Mortgage payment divided by monthly take-home = 33.3% or less.
- Loan amount divided by appraised value of the house = 95% or less (often 80%)
Why is there a trade off for every decision?
Every decision involves trade-offs because every choice you want results in picking it over something else. … Opportunity cost means choosing the better one of two ideas. There will always be an alternative; what could have happened instead. Describe how people make decisions by thinking at the margin.
What are cost trade offs?
Trade-offs are compensatory exchanges between the increase of some logistics costs and the reduction of other logistics costs and/or an increase in the level of customer service.