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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.
Research on preventive care addresses the question of whether it is cost saving or cost effective and whether there is an economics evidence base for health promotion and disease prevention. The need for and interest in preventive care is driven by the imperative to reduce health care costs while improving quality of care and the patient ...
Constructing new housing decreases the cost of rent and the price of homes in both the immediate neighborhood and in the city as a whole. In real estate economics, "supply skepticism" leads many Americans to misunderstand the effect of increasing the supply of housing on housing costs. The misconception is unique to the housing market.
According to the Center for Disease Control (CDC), a missed day of work due to illness or injury costs an employer around $1,685 per employee, which could account for $278 billion in the U.S. economy.
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.
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 ...
President-elect Donald Trump listens to Elon Musk as he arrives to watch SpaceX's mega rocket Starship lift off for a test flight from Starbase in Boca Chica, Texas, Tuesday, Nov. 19, 2024.
Cargill has invested to be one of the largest beef processors in North America. Bloomberg reported earlier this year that the famously tight-lipped behemoth’s profits had fallen to $2.48 billion ...