What is the relationship between the concepts of opportunity cost and trade-offs?

An opportunity cost is what you GIVE UP in order to pick another option. On the other hand, a trade-off is what your trade to recieve something else. An example of opportunity cost would be a good education, if you choose to not go to college. You are missing out on a good education, therefore that's the opportunity cost. An example of a trade-off would be going to the football game on a friday night instead of doing your homework. You would be trading doing your homework for the enjoyment of going to a football game. Hope that helps!

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