Tradeoff: meaning, definitions and examples
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tradeoff
[ ˈtreɪdˌɔf ]
decision making
A tradeoff is a compromise between two desirable but mutually exclusive options. It refers to the process of balancing the benefits of one choice against the costs of another. In various fields such as economics, politics, and psychology, understanding tradeoffs is crucial for making informed decisions. By acknowledging that choosing one option may entail forgoing another, individuals and organizations can better navigate complex situations and prioritize their goals.
Synonyms
balance, compromise, concession, sacrifice.
Examples of usage
- In business, there is often a tradeoff between quality and cost.
- When planning a vacation, you might face a tradeoff between location and budget.
- A tradeoff is necessary when deciding between time investment and return of investment.
- Every diet involves a tradeoff between satisfying hunger and maintaining health.
Translations
Translations of the word "tradeoff" in other languages:
🇵🇹 compensação
- troca
- concessão
🇮🇳 व्यापार का समझौता
- समझौता
- व्यापार समझौता
🇩🇪 Kompromiss
- Abwägung
- Handelsausgleich
🇮🇩 kompromi
- pertukaran
- timbal balik
🇺🇦 компроміс
- обмін
- взаємозв'язок
🇵🇱 kompromis
- wymiana
- związek
🇯🇵 トレードオフ
- 妥協
- 交換
🇫🇷 compromis
- échange
- concession
🇪🇸 compromiso
- intercambio
- concesión
🇹🇷 takas
- ödün
- denge
🇰🇷 트레이드오프
- 절충
- 교환
🇸🇦 تبادل
- تنازل
- تسوية
🇨🇿 kompromis
- výměna
- vyvážení
🇸🇰 kompromis
- výmena
- vyváženie
🇨🇳 权衡
- 交换
- 妥协
🇸🇮 kompromis
- izmenjava
- ravnotežje
🇮🇸 samskipti
- skiptin
- jafnvægi
🇰🇿 компромисс
- айырбас
- теңгерім
🇬🇪 კომპრომისი
- გაცვლა
- შესწორება
🇦🇿 kompromis
- mübadilə
- balans
🇲🇽 compromiso
- intercambio
- concesión
Etymology
The term 'tradeoff' originated in the early 20th century, combining 'trade', which comes from the Middle English 'trade', meaning a transaction or exchange, with 'off', indicating a form of separation. Initially used in economic contexts, the word captures the essence of making a choice that involves sacrificing one aspect to gain another. As the complexity of decision-making grew in various fields including management, psychology, and environmental science, the concept of tradeoff became increasingly relevant. The term reflects a fundamental principle of scarcity; since resources are limited, individuals and organizations must often choose between competing alternatives, making tradeoffs an essential consideration in planning and strategy.