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In the context of resource allocation, what does the term 'trade-off' imply? (2023)

Practice Questions

1 question
Q1
In the context of resource allocation, what does the term 'trade-off' imply? (2023)
  1. The balance between cost and quality.
  2. The need to give up one resource to gain another.
  3. The equal distribution of resources.
  4. The process of evaluating resource needs.

Questions & Step-by-step Solutions

1 item
Q
Q: In the context of resource allocation, what does the term 'trade-off' imply? (2023)
Solution: A trade-off in resource allocation implies the need to give up one resource to gain another, making option 1 correct.
Steps: 0

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