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

7242 Views

See similar Economics GCSE tutors

Related Economics GCSE answers

All answers ▸

What is price elasticity of demand?


Explain one possible effect on the equilibrium market price of an increase in production costs for firms. (2 marks)


In theory, what should happen if there is excess supply for a good, what should happen?


Explain why income tax in the UK is an example of progressive taxation?


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