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mote1985 [20]
4 years ago
10

What is the difference between a trade-off and an opportunity cost

Biology
2 answers:
Serga [27]4 years ago
7 0

when we sacrifice one thing to obtain another, that's called a trade-off

Opportunity cost is an economic concept which used to discuss choice.


miss Akunina [59]4 years ago
6 0
<h2>Answer and Explanation</h2>

Trade off is the compromise but the opportunity cost is the loss of the things which is not taken. It is the way which is not considered. Trade-offs generate opportunity costs. When we create a trade-off, the point which we do not prefer is our opportunity cost. Hence in an individual's life, everything has opportunity costs. A trade-off means the possibility that is given up, to accomplish what is wanted. While, the opportunity cost is the cost of the second desirable option given up to obtain a decision.

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