The first records of the term trade-off come from around 1960. It is a noun form of the verb phrase trade off, which means to exchange one thing for another, usually as a compromise.
What do you mean by trade-off?
Definition of trade-off
1 : 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. 2 : a giving up of one thing in return for another : exchange. Other Words from trade-off Synonyms Learn More About trade-off.
How do you use trade-off in a sentence?
- 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.
Is trade-off a formal word?
exchange | swap |
---|---|
trade | commutation |
barter | dicker |
truck | quid pro quo |
back-and-forth | interchange |
Is trade-off countable?
ˈtrade-off noun [countable] a balance between two opposing things, that you are willing to accept in order to achieve somethinga trade-off between something and something There has to be a trade-off between quality and quantity if we want to keep prices low.
Is trade-off a noun or verb?
TRADE OFF (phrasal verb) definition and synonyms | Macmillan Dictionary.
What is economic trade-off?
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.
Does trade-off have a hyphen?
It should, if you wish to spell it in a standard way. There is also the option of “tradeoff”, which is accepted by a number of US English dictionaries, but not British ones, I don’t think. “Trade-off” is your safest bet.
Why do trade-offs exist?
Trade-offs occur when activities are incompatible. Simply put, a trade-off means that more of one thing necessitates less of another. An airline can choose to serve meals—adding cost and slowing turnaround time at the gate—or it can choose not to, but it cannot do both without bearing major inefficiencies.
How do you make a trade-off?
Making decisions requires trading off one item against another. In economics, the term trade-off is often expressed as an opportunity cost, which is the most preferred possible alternative. A trade-off involves a sacrifice that must be made to get a certain product or experience.
What is a good example of a trade-off?
Trade-off definition
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.
What is another way to say trade-off?
balance, set-off, disadvantage, contradiction, arbitrage, equilibrium, Equilibria, arbitrate, refereeing, ‘arbitrage, quandary, accommodation, trade, counterparty, agreement, setoff, trading, give-and-take, equalisation, conundrum, counterbalance, bargain, drawback, swap, adjudicative.
What is another word for trade-off?
In this page you can discover 9 synonyms, antonyms, idiomatic expressions, and related words for trade-off, like: trade-offs, strike-a-balance, interdependencies, tradeoff, subtle-distinction, toss-up, difference, disparity and mismatch.
What is a real life example of trade-off?
An example of a trade-off in a real-world scenario is: A family lives on five acres in the country and the parent commutes an hour and a half to work in the city. Although the family loves their home and land in the country, they decide to move into the city, reducing the commute to half an hour.
Is trade-off the same as opportunity cost?
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 the plural of trade-off?
trade–off /ˈtreɪdˌɑːf/ noun. plural trade–offs.
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.
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 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.
Why are trade-offs necessary in economics?
Why are trade-offs necessary in economics? Trade-offs create opportunity costs, one of the most important concepts in economics. … Everything has opportunity costs. If you just bought something, you could have always chosen to buy something else instead.
What is another word for trade-off economics?
synonyms for trade-off
accommodation. accord. adjustment. arrangement. bargain.
What is the relationship between decisions and trade-offs?
What is the relationship between decisions and trade-offs? Decisions are directly related to trade offs because what one person chooses can have an effect on outcome. The decisions you make at work typically have obvious answers.
What are three examples of a trade-off?
- Money vs Time. 90% of all jobs and promotions are a trade-off between money earned and the time required. …
- Position vs Accountability. …
- Job security vs Opportunity. …
- Travel vs Predictability. …
- Role vs People. …
- Brand vs Scope. …
- Relationships vs Numbers.
What is trade-off give three examples of important trade-offs that you faced 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.
Why do people face trade-off?
To get something you want, you have to give up something else you want. Scarce resources. Think of allocating your time or money. Societies face a tradeoff between more consumer goods (low taxes) and more public goods (defense, social programs).
What is the opposite of trade-off?
▲ Opposite of an agreement or settlement of a dispute through making concessions. difference. disagreement.
What is another way to say pros and cons?
- advantages and disadvantages.
- assets and liabilities.
- fors and againsts.
- for and against.
- gains and losses.
- opportunities and obstacles.
- strengths and weaknesses.
- positives and negatives.
How can trade-offs be used to calculate opportunity cost?
Trade-offs create opportunity costs, one of the most important concepts in economics. Whenever you make a trade-off, the thing that you do not choose is your opportunity cost. To butcher the poet Robert Frost, opportunity cost is the path not taken (and that makes all the difference).
What is the difference between on trade and off trade?
On & Off Trade is industry jargon for the types of venues and premises. On-trade refers to on-premise consumption (bars, restaurants, hotels, nightclubs), while Off-trade refers to places that retail spirits for off-premise consumption (supermarkets, off-licences, shops, online-stores).
What is the phrase that refers to the trade-off that nations face when choosing whether to spend more on military or consumer goods?
1, Lesson 2: Opportunity Cost. An alternative that is sacrificed when a decision is made. Phrase that refers to the trade-off that nations face when choosing whether to produce more or less military or consumer goods.
What is the synonym of concession?
Synonyms for concession. accommodation, compromise, give-and-take, negotiation.
What word means business or trade?
Some common synonyms of trade are business, commerce, industry, and traffic. While all these words mean “activity concerned with the supplying and distribution of commodities,” commerce and trade imply the exchange and transportation of commodities.
What is meant by trade-offs that nations face when choosing whether to produce more or fewer military or consumer goods?
guns or butter. A phrase that refers to the trade-off that nations face when choosing whether to prodece more or less military or consumer goods. human capital. The skills and knowledge gained by workers through education and experience. labor.
How are trade-offs and opportunity costs different quizlet?
The difference between trade offs and opportunity cost is that a trade-off is all the resources that are lost when a consumer makes a choice. An opportunity cost is the most desirable opportunity given up when a consumer makes a choice. You just studied 8 terms!
What is trade-off in economics Brainly?
Brainly User. In economics, the term trade-off is often expressed as an opportunity cost, which is the most preferred possible alternative. A trade-off involves a sacrifice that must be made to get a certain product or experience.
What represents the value of the second best alternative?
The opportunity cost is the economic value of the best, foregone alternative. The cash flow of the second best alternative represents the opportunity cost of choosing the most attractive option. Opportunity costs pop up all the time in real life but may not always be valued in monetary terms.
Which of the following is a guns or butter decision?
Which of the following is a “guns or butter” decision? A country must decide whether to use its steel to build new fighter jets or new sports cars. Why does every decision involve trade-offs? If a government decides to produce more “guns,” then having less “butter” is the opportunity cost.
What is a synonym for optimal?
optimal. paradigmatic. pie-in-the-sky. prototypical. quintessential.