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

6147 Views

See similar Economics GCSE tutors

Related Economics GCSE answers

All answers ▸

What is the law of demand?


What is meant by the different sectors of economies?


What are some main solutions for consumption negative externalities, such as smoking?


How do interest rate changes affect economic growth?


We're here to help

contact us iconContact usWhatsapp logoMessage us on Whatsapptelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

© MyTutorWeb Ltd 2013–2025

Terms & Conditions|Privacy Policy
Cookie Preferences