What is a 'trade off'?

It involves choosing more of one and less than another, or choosing something instead of another.This means that 2 options are compared against each other in a scenario to find an optimum that will meet the conditions necessary.

CH
Answered by Cora H. Economics tutor

7050 Views

See similar Economics GCSE tutors

Related Economics GCSE answers

All answers ▸

Explain the impact on a firm due to an increase in the minimum wage.


Evaluate the view that perfect competition is a more efficient market structure than monopoly.


Explain why a government budget deficit is likely to stimulate economic growth.


Explain why a rise in GDP will lead to a rise in the standard of living


We're here to help

contact us iconContact ustelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

MyTutor is part of the IXL family of brands:

© 2026 by IXL Learning