The sacrifice of some or all one economic goal, good, or services to achieve some other goal, good or service is called__________________?
Correct answer: C. Trade offs
- A. Trade block
- B. Trade union
- C. Trade offs
- D. All
Explanation
A trade-off is the sacrifice of one objective, good, or service to obtain more of another because resources are limited. Trade blocks and trade unions are institutional arrangements, not sacrifices between alternatives.
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