A trade-off (or trade-off) is a situational decision that involves the loss or loss of a quality, quantity, or property of a set or design in exchange for profit from another. Simply put, a tradeoff is where one thing increases, and the other certainly decreases.

What is an equity-efficiency tradeoff?

An equity-skills tradeoff is when there is a conflict between maximizing economic efficiency and increasing society's fairness (or equity). When and if such trade ceases, economists or public policymakers may decide to give up some economic skills in order to achieve a more just or equitable society.