ˈtrād-ˌȯf. : 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. : a giving up of one thing in return for another : exchange.
What is an example of a trade-off in science?
Prior research has shown that the evolutionary history of most living organisms is filled with tradeoffs. Developing colored feathers is one example: doing so helps attract a mate, but colorful birds tend to be more easily spotted by predators. Another example is the number of offspring a species may produce.
What is another term for trade-off?
synonyms for trade-off accommodation. accord. adjustment. arrangement. bargain.
Is it tradeoff or trade-off?
A trade-off is a situation where you make a compromise between two things, or where you exchange all or part of one thing for another. …the trade-off between inflation and unemployment.
Why is trade-off important?
Trade-offs are pervasive in competition and essential to strategy. They create the need for choice and protect against repositioners and straddlers.
Why do trade-offs exist?
The idea of trade-offs is one of the most basic principles in economics, that in order to have more of one thing, you have to accept having less of something else. This principle disciplines us to use resources efficiently and without waste, and also makes us alert to new resources that can satisfy our wants.
Why do trade-offs exist in biology?
In biology, a trade-off exists when one trait cannot increase without a decrease in another (or vice versa). Such a situation can be caused by a number of physical and biological mechanisms.
How do you write a 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.
What is trade-off and opportunity cost?
Opportunity Cost. In trade-off economics, the opportunity cost is the profit lost when one alternative is chosen over another. A trade-off is understanding that you are going to lose something, in relation to time, money, or energy, when the decision to choose something else is made.
What is a trade-off Brainly?
Explanation: an act of balancing between two opposing situations, qualities or things, both of which you want and need.
What is a trade-off quizlet?
Trade-off. an exchange that occurs as a compromise. Opportunity cost. the most desirable alternative given up as the result of a decision.
Can trade-off be a verb?
They traded off a positive rate of inflation for a lower unemployment rate.
What is trade-off give three examples of important trade-offs that you face in your life what have you done about it?
1) after opening the eye at first and of deciding that this world is our rival or a friend. 2) choosing the streams English or commerce or Science. 3) death as the trade off that we have to face in our life.
What is the difference between trade-offs and opportunity?
Comparison Chart Trade-off implies the exchange of one thing to get the another. Opportunity cost implies the value of choice foregone, to get something else.
What is trade-off in strategy?
Trade-offs are the activities a brand chooses not to do, the activities that would be incompatible with the brand’s vision and core values. Without trade-offs, there would be no choice and thus no need for strategy — Michael Porter.
Scarcity is related to choices and trade-offs because the consumer must “choose” how they use their resources, or which resources to use. In addition, every choice made has a cost associated to it which means that trade-offs must be made.
Which is a major trade-off in life histories?
Those trade-offs that have received most attention include (1) current reproduction versus survival; (2) current versus future reproduction; (3) current reproduction versus parental growth; (4) current reproduction versus parental condition; and (5) number versus size of offspring.
According to economics, trade-offs are unavoidable because every decision creates an opportunity cost. This means that if a person selects one option, they have to give up another option.
What is 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 another word for opportunity cost?
- value.
- assessment.
- monetary value.
- average cost.
- marginal cost.
- incremental cost.
- expensiveness.
- price.
What is an opportunity cost example?
A student spends three hours and $20 at the movies the night before an exam. The opportunity cost is time spent studying and that money to spend on something else. A farmer chooses to plant wheat; the opportunity cost is planting a different crop, or an alternate use of the resources (land and farm equipment).
What is an opportunity cost?
Opportunity cost is an economics term that refers to the value of what you have to give up in order to choose something else.
Why is there no trade-off between inflation and unemployment?
In the long run, unemployment returns to the natural rate, while inflation is at a higher level. Thus, both factors (changes in inflationary expectations and supply shocks) cause the Phillips Curve to be vertical with no long run tradeoff between inflation and unemployment.
What is the trade-off between unemployment rate and inflation rate?
Thus, there exists a trade-off between inflation and unemployment: The higher the inflation rate, the lower is the unemployment level. This Phillips Curve relation poses a dilemma to the policy makers.
What is inflation unemployment trade-off?
Thus the trade-offs between inflation and unemployment means that policy makers may reduce unemployment rate below its natural rate in the short run at the cost of higher inflation but the economy moves back to the natural rate of unemployment once workers are able to make more realistic expectation of the rise in the …