In the production of goods and services, trade-offs exist because

Question

Quizplus · Accepted Answer

Trade-offs exist because society has a limited amount of productive resources. This means that choices must be made about how to allocate these resources in the production of goods and services, which often involves sacrificing the production of some goods in order to produce others. Therefore, choices and trade-offs are necessary in order to make the most effective use of limited resources. The other options listed are not necessarily related to the concept of trade-offs.

In the Production of Goods and Services, Trade-Offs Exist Because