What is the meaning of trades off?
Definition of 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 an example of trade-off?
In economics, a trade-off is defined as an “opportunity cost.” For example, you might take a day off work to go to a concert, gaining the opportunity of seeing your favorite band, while losing a day’s wages as the cost for that opportunity.
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.
How do you use trade-offs?
Trade-off sentence example
- Jack had to make a trade-off between getting a good night’s sleep and staying up late to finish his research project.
- Exercising and following a strict diet instead of eating junk food was a trade-off she was willing to make to get healthy.
What is trade-off in economic?
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.
Why are there trade-offs?
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 in economy?
What are the benefits of trade-offs?
One of the best advantages is that you can write off many of the expenses of your work life, such as travel, client entertainment, research into new products, networking, and even certain home expenses — but check with your accountant first.
What is a trade-off in negotiation?
A trade-off is a simple trade which conditions your willingness to move on one issue to the other side’s concurrent movement on one of your proposals.
What are trade-offs in economic?
How do you identify trade-offs?
A tradeoff is loosely defined as any situation where making one choice means losing something else, usually forgoing a benefit or opportunity. We experience tradeoffs in zero-sum situations when a plus in one area must be a negative in another.
What is on trade and off trade?
On & Off Trade is industry jargon for the types of venues and premises. On-trade refers to on-premise consumption (bars, restaurants, hotels, nightclubs), while Off-trade refers to places that retail spirits for off-premise consumption (supermarkets, off-licences, shops, online-stores).
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