Question

select the correct answer.
what is a trade - off?
a. decreasing the amount of resources spent on all wants to reduce the total costs in future
b. replacing one resource with another resource to satisfy a want
c. organizing the use of a resource in a manner that fulfills all wants
d. reducing the amount of resources spent on one want to spend more on another want

Explanation:

A trade - off in economics (a subfield of Business) involves making a choice where you give up some of one thing to get more of another. Option A is about reducing resources on all wants, not a trade - off. Option B is about resource replacement, not a trade - off. Option C is about organizing resources to fulfill all wants, which is not a trade - off. Option D correctly describes a trade - off as it involves reducing resources on one want to spend more on another.

Answer:

D. reducing the amount of resources spent on one want to spend more on another want