Trade-offs are an important part of economic decision-making. You are supposed to Analyze and explain any three trade-offs that you face in your life. 

You plan to study on weekend and your friends ask you to go to a farmhouse with them. What do you think is the true cost of spending your weekend on a farmhouse with friends?  

You plan to spend your weekend working at your father’s superstore for a wage, but your friends ask you to go play cricket at the weekend.  What do you think is the true cost of spending your weekend playing cricket with friends? 

Answer rating: 100% (QA)

In economics tradeoffs can be defined as a situation where making a choice costs something else In m... View the full answer