describe how a company would balance the tradeoff between cost and speed when selecting a shipping method

Business

1 answer:

Zielflug [23.3K]2 years ago

6 0

Answer: The opportunity cost is the most desirable trade-off.

Explanation: Trade-offs refer to the choosing decisions that an individual faces when choosing between two-goods or making any other economic decision. For instance, a graduate may face a trade-off between choosing a job or starting up his own business.

While, opportunity cost is simply the cost of the lost alternative. For example, if the graduate chooses to start a business then his opportunity cost is the salary foregone from going for a job.

Thus, when deciding on which option to choose (trade-off) we always look at the option which has a lower opportunity cost. So we can say that they are the most desirable trade-off.

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