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  • Economic Decisions and Systems Online Test
  • when you give up something to have something else
Multiple choice

when you give up something to have something else

  1. opportunity

  2. cost of trade

  3. trade-off

  4. opportunity cost

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A trade-off is the act of giving up one thing to obtain another. While related to opportunity cost, the definition provided describes the act of making the trade itself.

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