58 833
Assignments Done
Successfully Done
In March 2018
Your physics homework can be a real challenge, and the due date can be really close — feel free to use our assistance and get the desired result.
Be sure that math assignments completed by our experts will be error-free and done according to your instructions specified in the submitted order form.
Our experts will gladly share their knowledge and help you with programming homework. Keep up with the world’s newest programming trends.

Answer on Economics of Enterprise Question for sean

Question #15156
what are trade offs and how do trade offs apply to are daily life?
Expert's answer
A trade-off (or tradeoff) is a situation that involves losing one quality or aspect of something in return
for gaining another quality or aspect. It often implies a decision to be made
with full comprehension of both the upside and downside of a particular choice;
the term is also used in an evolutionary context, in which case the selection
process acts as the "decision-maker".
In economics the term is expressed as opportunity cost, referring to the most preferred alternative given up. A trade-off, then,
involves a sacrifice that must be made to obtain a certain product, rather than
other products that can be made using the same required resources. For a person
going to a basketball game, its opportunity cost is the money and time expended,
say that would have been spent watching a particular television

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!


No comments. Be first!

Leave a comment

Ask Your question