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GCSE Business · key term
A situation in which gaining more of one benefit involves giving up some of another, such as accepting higher costs to improve working conditions.
Used by AQA and Edexcel
Paper 1, Paper 2
A decision in which gaining one benefit involves giving up another, such as accepting higher costs to treat workers more fairly.
Revise: Ethical ConsiderationsA trade-off occurs when gaining one benefit means giving up another. An ethical decision may benefit workers or suppliers but reduce the business’s immediate profit.
A situation in which gaining more of one benefit involves giving up some of another.
Specification 2.1.4 · Paper 2
Revise: Ethics and the EnvironmentA trade-off means gaining one benefit while giving up some of another. Paying higher wages or choosing a more expensive ethical supplier may improve workers’ welfare but increase the business’s costs. If revenue stays unchanged, higher costs reduce profit.
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