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In economics a trade-off is expressed in terms of the opportunity cost of a particular choice, which is the loss of the most preferred alternative given up. [2] A tradeoff, then, involves a sacrifice that must be made to obtain a certain product, service, or experience, rather than others that could be made or obtained using the same required resources.
Life history traits are traits closely linked to fitness, such as traits associated with growth rate, body size, stress response, timing of reproduction, offspring quantity/quality, longevity and dispersal. [6] A classic example of life history tradeoffs is a negative relationship between the age and the size of maturity.
Researchers in political economy have viewed the trade-off between military and consumer spending as a useful predictor of election success. [1] In this example, a nation has to choose between two options when spending its finite resources. It may buy either guns (invest in defense/military) or butter (invest in production of goods), or a ...
The best study of the inflation-unemployment trade-off finds that an increase in unemployment would reduce inflation by about one-third of 1%. Most other studies are in this ballpark.
The model is limited in that it only considers the effect of the merger on price charged by the firm(s). However, in most real life situations, firms compete on many other aspects other than price, for example product quality, capacity, research and development, and product differentiation. These variables are also likely to be affected by a ...
For example, an individual with severe asthma could be offered 10 years in their current condition, or a shorter length of time in full health. If this individual is willing to trade off two of the ten offered years in order to regain full health, this suggests that eight years in full health has the same value as ten years with severe asthma.
Of relevance here is the trade-off between fecundity, growth, and survivorship in its life history strategy. These trade-offs come into play in the evolution of iteroparity and semelparity. These trade-offs come into play in the evolution of iteroparity and semelparity.
For example, there is a trade-off between maximizing body size and maximizing lifespan, and between maximizing offspring size and maximizing offspring number. [5] [6] This is also sometimes seen as a choice between quantity and quality of offspring. [7] These choices are the trade-offs that life history theory studies.