- noun an act of exchanging one thing for another as part of a business deal
- noun the exchange of one thing for another as part of a business deal
(written as Trade-off)This is the idea that every individual will voluntarily sacrifice some of one good or service in exchange for a sufficient increase in the amount of some other. In production functions it is the idea that some of one input or factor of production can be sacrificed without loss of output if there is a sufficient increase in some other input.
(written as trade off)to give up one demand made in negotiating against a concession from the other side
Information & Library Science
- noun a compromise between two opposite points of view