Trade-offs are:

Question

Trade-offs are:

Quizplus · Accepted Answer

Trade-offs are an inherent part of decision-making. Whenever we make a choice, there is a cost associated with it, even if that cost is not always monetary. Therefore, it is important to weigh the pros and cons of each option and consider the trade-offs before making a decision. Choice B is incorrect because even if we receive something for free, there may still be trade-offs involved, such as the opportunity cost of using time or resources to obtain that free item. Choice C is incorrect because trade-offs do not necessarily lead to market failure, they simply reflect the fact that resources are scarce and choices must be made. Choice D is incorrect because even with economic planning, trade-offs are inevitable.

Trade-Offs Are