A trade-off entails balancing the advantages and disadvantages. Based on the presumption that people take advantage of opportunities to improve their own circumstances, economists make predictions about personal behavior.
Therefore, decisions should always be made by those who have the same opportunities. One can make a wise choice by weighing trade-offs, other options, and opportunity costs, or the next best alternative use of money, time, or resources. Every choice you make means choosing it over something else, therefore every choice entails trade-offs. Not everything is always possible, such as having two things. Only one must be chosen above the other.
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