Economics when applied to real life sounds beautiful. this blog is for those students who are discovering the different facets of economics applications and want to share their discoveries.
Friday, July 20, 2018
TIME-MONEY TRADEOFF
Trade-off means in order to save time or spend time we have to give up money which we have or to save money we have to give up time.
For example:-
In our day to day life we face trade-off between time and money several times like-
* when we are going for college we take any public transport or personal transport in order to save our time.
* when we are sitting with our friends in order to pass more and more time with them we spend more and more money.
* when we are going back to home we choose to walk in order to save money which take more time to reach home.
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