Economics B A-Level
Economic trade-offs
What Economic trade-offs means in Economics B A-Level, as defined for Pearson Edexcel.
Definition of Economic trade-offs
Check what you remember
Read the wording for your board, then hide it and explain Economic trade-offs in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: Pearson Edexcel
The balancing required between competing outcomes, such as accepting higher inflation to reduce unemployment or slower growth to control inflation.
Topics that use Economic trade-offs
- Potential policy conflicts and trade-offs (Pearson Edexcel A-Level)
Related terms
- Aggregate demand
- Demand-pull inflation
- Government intervention
- Macroeconomic objectives
- Market failure
- Policy conflicts
Using Economic trade-offs in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
Practise Economics B questions
Create a free account to answer exam-style questions on this topic and get feedback on your answers.
Start free
All Economics B A-Level termsA week of Premium from your first lesson · Then the free plan continues · No card, no charge