What is an example of a tradeoff?
Frequency: 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 is trade-off in strategy?
Trade-offs occur when activities are incompatible. Simply put, a trade-off means that more of one thing necessitates less of another. An airline can choose to serve meals—adding cost and slowing turnaround time at the gate—or it can choose not to, but it cannot do both without bearing major inefficiencies.
What is the meaning of trade-off in economics?
The term “trade-off” is employed in economics to refer to the fact that budgeting inevitably involves sacrificing some of X to get more of Y. With a fixed amount of savings, one can buy a car or take an expensive vacation, but not both. The car can be “traded off” for the vacation or vice versa.
What is a trade-off and why is it important?
In economics, the term trade-off is often expressed as opportunity cost. A trade-off involves a sacrifice that must be made to obtain a desired product or experience. Understanding the trade-off for every decision you make helps ensure that you are using your resources (whether it’s time, money or energy) wisely.
What is trade-off explain?
A trade-off is a kind of compromise that involves giving up something in return for getting something else. When looking you for an after-school job, you might have to make a trade-off: a lower hourly wage for a more convenient location, for example.
What is meant by tradeoff?
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 do you mean by trade-off?
What do u mean by trade-off?
1 : a balancing of factors all of which are not attainable at the same time the education versus experience trade-off which governs personnel practices— H. S. White. 2 : a giving up of one thing in return for another : exchange. Other Words from trade-off Synonyms Learn More About trade-off.
What is a trade-off in government?
by Dr. Trade-off. When choices are made (collectively or by an individual) to accept having less of one thing in order to get more of something else, the results are called trade-offs.
What is trade-off Brainly?
In simple terms, a tradeoff is where one thing increases and another must decrease. In economics, a trade-off is commonly expressed in terms of the opportunity cost of one potential choice, which is the loss of the best available alternative.
What is a trade-off in science?
In biology, a trade-off exists when one trait cannot increase without a decrease in another (or vice versa). Trade-offs also occur when characteristics that enhance one aspect of performance necessarily decrease another type of performance.
Why trade-off is important in economics?
In economics, the term trade-off is often expressed as opportunity cost. Understanding the trade-off for every decision you make helps ensure that you are using your resources (whether it’s time, money or energy) wisely.