In economics, the precept that “individuals face trade-offs” is a basic idea that underlies all financial decision-making. It states that each selection includes giving up one thing else, and that there is no such thing as a such factor as a free lunch.
For instance, should you select to spend your cash on a brand new automotive, you’ll have much less cash to spend on different issues, corresponding to meals or leisure. Or, should you select to spend your time finding out for an examination, you’ll have much less time to spend with pals or household.
