People always face trade-offs because

Question

Quizplus · Accepted Answer

People have limited time and resources, and they have to choose among different alternatives. This is known as the concept of opportunity cost, where the cost of choosing one option is the opportunity of giving up on another. Therefore, people face trade-offs because they have more than one use for their time and money, and must choose which option is the most important or valuable. Option B is incorrect because not everyone can afford to buy different goods and services. Option C is incorrect because trading takes place in both market and non-market economies. Finally, option D is incorrect because while trade can make people better off, it involves trade-offs and opportunity costs.

People Always Face Trade-Offs Because