Which is not a trade-off for students who spend a semester abroad Brainly?
Experiencing the culture of another country is not a trade-off for students who spend a semester abroad.
What is a trade-off Brainly?
In simple terms, a tradeoff is where one thing increases and another must decrease. In economics, a trade-off is commonly expressed in terms of the opportunity cost of one potential choice, which is the loss of the best available alternative. jd3sp4o0y and 4 more users found this answer helpful. Thanks 1. 3.7.
How are trade offs and opportunity costs different?
A “Trade-off” is the choice you have to make between two options, given limited resources and the ability to only choose one. After you make the choice, the “opportunity cost” is the lost chance to enjoy an item you did NOT select because of the choice you just made.
Why do decisions involve trade offs?
Every decision involves trade-offs because every choice you want results in picking it over something else. Opportunity cost means choosing the better one of two ideas. There will always be an alternative; what could have happened instead.
Which would be an example of an opportunity cost Brainly?
The loss of other alternatives when one alternative is chosen is called opportunity cost. Example: Someone gives up going to see a movie to study for a test in order to get a good grade. The opportunity cost is the cost of the movie and the enjoyment of seeing it.
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 in economics?
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.
What is trade-off example?
In economics, a trade-off is defined as an “opportunity cost.” For example, you might take a day off work to go to a concert, gaining the opportunity of seeing your favorite band, while losing a day’s wages as the cost for that opportunity.
What are economic trade-offs?
What is economic trade-off?
Which one of these would be an example of opportunity cost?
The opportunity cost is time spent studying and that money to spend on something else. A farmer chooses to plant wheat; the opportunity cost is planting a different crop, or an alternate use of the resources (land and farm equipment). A commuter takes the train to work instead of driving.
Which situation is the best example of opportunity cost a country?
The correct option is a) A country chooses to produce bananas instead of wheat. This identifies the cost borne by a country or a business if it chooses one option over the other. The subject should have two alternatives from which it can choose.
