Title: Why does every decision involve trade offs?
Headings: Why does every decision involve trade offs?
Why does every decision involve trade offs?
Content: Describe how people make decisions by thinking at the margin. Click to see full answer
Subsequently, one may also ask, how do decisions involve trade offs? A trade-off is all alternatives given up when choosing one option. The other other alternatives in that decision are the trade-offs. Therefore, every decision involves trade-offs. Opportunity cost is the most desirable alternative given up as the result of a decision. Likewise, how does the phrase guns or butter expresses the principle of trade offs? it shows when you decide to pproduce one thing over the other you give up the time and resouces to make the other thing. Similarly one may ask, why do all economic decisions involve trade offs quizlet? No matter what the decision is you are giving up an another benefit to achieve the new one.