Describe a typical economic decision. What is the trade-off? What is the opportunity cost?

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asked Feb 22, 2018 137k views

2 Answers

Alen Lee · Answer 1 · 2018-02-22T15:29:48+0000

Answer: trade-off is when you are giving up one alternative good or service for the other. opportunity cost is what you will give up for something else

Kantuni · Answer 2 · 2018-02-28T09:37:38+0000

Well, trade-off is when you are giving up one alternative good or service for the other, and the opportunity cost is what you will give up.

Describe a typical economic decision. What is the trade-off? What is the opportunity cost?

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