What Is a Trade-off?
What Is a Trade-off?
A trade-off occurs when gaining more of one economic objective can be achieved only by giving up some of another. Conflicts often arise because an economy has finite productive capacity in the short run.
Step-by-step lessons covering Edexcel A A Level Economics 2.6.4 Conflicts and trade-offs between objectives and policies for A Level Economics. Each lesson works through exam-style questions in Paper 1, Paper 2 and Paper 3 format. Start with the core supply-and-demand models before moving on to the more evaluation-heavy macroeconomic policy topics.