tradeoffs

Meanings

• Noun

  The act of giving up something in order to get something else, especially something of greater value or benefit.

  - "The decision to invest in a new technology required significant tradeoffs in terms of cost and time."
  - "There are always tradeoffs between convenience and privacy."
  - "The tradeoffs in the budget between education and defense were a contentious issue in the legislature."

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Synonyms

compromise

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Rhymes

Words rhyming with tradeoffs
Offs , Gloves , Goves , Hooves , Grooves

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Variants

List of all variants of tradeoffs that leads to same result
trade off , trade-off , trade-offs , traded off , trades off , trading off

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Etymology

origin and the way in which meanings have changed throughout history.

The term 'tradeoffs' originated in the field of economics, specifically in the context of making decisions between alternative options when resources are limited.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. The term 'tradeoffs' was first used in a scholarly article in 1934 by economist Paul A. Samuelson.

2. The concept of tradeoffs is not unique to economics, but is also used in other fields such as engineering, psychology, and computer science.

3. The phrase 'You can't have your cake and eat it too' is a common expression that illustrates the concept of tradeoffs.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Opportunity cost: The opportunity cost is the value of the next best alternative that is given up when making a choice. It is an important concept related to tradeoffs.

2. Utility: Utility is a measure of the value or worth of something, often used in economics to compare different options and their associated tradeoffs.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

The concept of tradeoffs is a common theme in literature, art, and philosophy, often used to explore the complexities of decision-making and the human condition.

How to Memorize "tradeoffs"

1. visualize
   

   - To visualize tradeoffs, imagine a scale with two pans. Place the benefits of one option in one pan and the costs of that option in the other. Balance the scale to see the tradeoffs.
   - Another way to visualize tradeoffs is to draw a graph with two axes representing the benefits and costs of different options. Plot the options on the graph to see the tradeoffs.

2. associate
   

   - To memorize tradeoffs, associate the concept with a memorable phrase, such as 'You can't have your cake and eat it too.' or 'Every coin has two sides.'
   - Create a mental image of a seesaw or teeter-totter to help remember the concept.

3. mnemonics
   

   - Use the acronym 'BCT' to remember the concept of tradeoffs: Benefits, Costs, Tradeoffs.
   - Create a mnemonic sentence, such as 'In business, benefits and costs are forever tradeoffs.'
   - Use a rhyme or song to help remember the concept.

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Memorize "tradeoffs" using Dictozo

The best and recommended way to memorize tradeoffs is, by using Dictozo. Just save the word in Dictozo extension and let the app handle the rest. It enhances the memorization process in two ways:

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