GEOLOGY

Detailed explanation-1: -Definition of cost-benefit trade-off desirability of a product or service in terms of the expected benefit relative to the cost; also called cost-benefit analysis. For example, a homeowner might weigh the expense of a lawn care service against the benefit of more leisure time and a better looking lawn.

Detailed explanation-2: -A trade-off (or tradeoff) is a situational decision that involves diminishing or losing one quality, quantity, or property of a set or design in return for gains in other aspects. In simple terms, a tradeoff is where one thing increases, and another must decrease.

Detailed explanation-3: -Every decision has trade-offs. First, every decision has trade-offs. Because scarcity exists, we have to decide what the best use of our limited time and resources is. With each choice there is something we must give up.

Detailed explanation-4: -The cost-benefit trade-off model is formulated to determine the design of optimal trade-off between the cost and benefit, subject to the funding available for a design and/or rehabilitation. You can customize the benefit functions and specify the maximum affordable budget.