What is a trade off give at least one example?
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. An advantage or improvement that necessitates the corresponding loss or degradation of something else.
What are some examples of trade off?
- 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.
- Hence there was an inevitable trade-off between these two factors in choosing our study reef.
What does making a trade off require you to do?
Tricks Dealers Use to Rip You Off on Your Trade-In
- Mixing the Trade-In with the Purchase. This is one of the biggest mistakes you can make. ...
- Lowball Offers. Another technique many dealers use is to give you a low-ball offer on your trade-in. ...
- Psychological Tricks. A common method dealers use is to get you to diminish the value of your vehicle using psychological tricks.
What is an example of trade off in economics?
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 are examples of trade-offs?
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 economy?
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 tradeoff in business?
Trade-offs occur when activities are incompatible. Simply put, a trade-off means that more of one thing necessitates less of another.
What is an example of tradeoff in government spending?
Trade-offs abound in government as well: Increased security at airports tends to lead to less convenience for travelers. Increased oversight over government spending often means increased paperwork and more bureaucracy.
What is a tradeoff in government?
(a) A tradeoff process is appropriate when it may be in the best interest of the Government to consider award to other than the lowest priced offeror or other than the highest technically rated offeror.
What is an example of a trade-off that a car company might make?
For example, a trade-off would be buying an expensive luxury car, or paying for college . An opportunity cost is the most desirable opportunity given up when a consumer makes a choice, i.e. attending college and getting an education while foregoing a luxurious sports car.
What is a trade-off GCSE business?
The balance between two desirable outcomes, where both are not achievable.
What is an individual trade-off?
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.
What is another word for trade-off?
compromise, transaction, dilemma, Bartering, horse-trading, arbitration, adjudication, barter, compensation, interplay, choice, interchange.
What are examples of trade-offs when scarce resources are used?
Scarcity implies that society must make trade-offs—that we must give up something to get more of another thing. For example, if I want to spend an hour sleeping, I cannot get it without giving up something else, such as an hour of studying.
What are trade-off issues?
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.
Is life a trade-off?
Life is a sequence of trade-offs dispersed across time and space. Operations research is a field within applied mathematics that offers algorithmic prescriptions on how to achieve some optimal objective (e.g., how to allocate a company's manufacturing plants to various production runs as to maximize profits).
1. Education vs no education
Education and research are very expensive things. Their fruits are also distant and uncertain.
2. Investing and risk
Investing experts say that without risk, you can’t have a good return on your investment.
3. Quality Vs Price
Faced with a tight budget, buyers are often forced to buy cheap goods.
5. Loan or equity
Ever grappled with a dilemma of how to finance that dream business you had?
6. Plea Bargains
If you ever find yourself at the wrong end of the law, prosecutors may entice you with a plea bargain offer.
7. Family Or Career
Many people, particularly women, find that they have to put off marriage in order to build their careers first.
Conclusion
Damn if you don’t, damn if you do, sums up your typical tradeoff situation.
Present vs Future
A student can travel and enjoy life now or study to prepare for their future by getting into a good school and graduating.
Opportunity vs Risk
An employee may be able to earn more with a career change but there is a risk that they will fail in the new role.
Risk vs Risk
An employee either takes a risk by learning new things and taking on new responsibilities or faces the risk of falling behind changes to their profession and industry such that they are no longer attractive to employers.
Opportunity vs Opportunity
A student is accepted into both computer science and a prestigious fine art program but can only accept one.
Offense vs Defense
A sports team can either play an offensive game by advancing forward aggressively or a defensive game by holding players back in defensive positions.
Time vs Cost
A project can be completed a little faster if you double the cost by assigning more resources.
Revenue vs Cost
A software platform will enjoy more revenue if they invest to build popular features and address problems such as slow response times.
