Question

What are some examples of tradeoff in daily life

Answer 1

Answer:

Trade-off between studying one subject over studying another subject.

Spending 15 dollars to buy a pizza or to buy a study guide.

Buying a car leads to a trade-off between the cost of the car and the cost of other things one might want to buy.

Answer 2

In basic terms,trade off means allocating among various options or choices.It advocates that as we make certain choices or decisions,we are simultaneously giving up or sacrificing the others and everyone of us has to do trade offs on a regular basis.

Explanation:

As stated,trade offs are part of our regular life as we do something or conduct any activity we are focusing all our time,efforts and resources on that particular activity,which could have been utilized on employed on other actions or pursuits.Some examples of trade offs in our regular life includes going to work or going to school or college.An employed individual or office goer could use the same time to conduct or perform other activities to earn money such as personal business.Similarly, a student who is going to school or college could have done something else during the same time such as doing part time job and earn side income.Another example of trade off can be seen in the purchasing or consumption decisions that we make in our regular life.Suppose,an individual wants to purchase soft drinks.Now,he/she buys a big bottle of Pepsi but with the same money he/she could have bought any other brand such as Coke or Fanta. Hence, we have to make numerous choices in our daily or regular life which also reflect constant trade offs in our regular life.