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AP Economics

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Describe why every decision involves trade-off.

Can you please explain it to me.I don't get it!!!

  • AP Economics -

    Every time a person chooses between two or more things, s/he gives up the other things. That's the tradeoff.

    Consider the simplest of decisions.

    If I decide to eat a hamburger rather than a pizza, I miss the taste of the pizza. That's a trade-off.

    If I decide to stay online talking with friends rather than studying for a test, I'm trading a good test grade for pleasure.

    If I decide to spend $100 on a luxury item, I'm trading buying other things instead of the one luxury item.

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