Used when decisions involve losing one benefit for gaining another. Choosing a job closer to home is a trade off for a higher salary elsewhere.
Pro Tip 2/3
Resource Allocation
Helps discuss how limited resources like time, money, or effort are distributed. There's a trade off between the number of employees and the funds available for raises.
Pro Tip 3/3
Quantities
Can involve physical quantities, like distance or weight, not just conceptual ones. The trade off for a bigger car is often less fuel efficiency.