Which of the following is the correct term for the simple act of giving one thing up for another?
A)Opportunity cost
B)Profit motive
C)Trade-off
D)Command

Question

Quizplus · Accepted Answer

Trade-off is the correct term for the simple act of giving one thing up for another.
Key Takeaway: Remember not to confuse trade-off with "opportunity cost," which is often used in tandem with the term "trade-off." Opportunity cost refers to the concrete value of what you are giving up in the trade off (often in terms of time or money).

Which of the Following Is the Correct Term for the Simple