Examples of important trade-offs that I face in my life. Economists use both terms synonymously. Difference Between Opportunity Cost And Trade Off At the same time you are concerned that newspapers who report on global warming. . It is a deal that arises as a compromise wherein to obtain a certain aspect we have to lose another aspect. The PPF Production Possibility Frontier models the trade-offs and opportunity costs that necessarily accompany decision-making in the face of scarcity. An economic trade-off is when a person makes an exchange of something of value to accept something that is hopefully more valuable over time. Use of scarce farming land The opportunity cost of using farmland to grow wheat for bio-fuel means that there is less wheat available for food production causing food prices to rise Trade-offs A trade-off arises where having more of. Opportunity cost is dependent on the. What you sacrifice by choosing e...