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Answer:

The answer is stated below:

Explanation:

The trade off which is faced by people when choosing the house or an apartment are:

Consumer or the people faced with the several options like an apartment or the house, when deciding what to purchase.

Resources - Resources means the financial condition of the person, if the resources are unlimited, then person will consider to buy a house and if the person have the resources limited, then they should consider buying an apartment.

Family preference - The person family preference need to be considered as if the family wants or like to live in house then the person should consider this and if want an apartment, then the person should consider that.

Trade-offs can be said as a sacrifice or giving up of some element with a view to gain various other elements in an exchange.

While choosing among a house or an apartment a person may need to face many trade-offs considering pros and cons of the deal and as per the priorities of the person.

Trade-off factors

  • The people have to consider their priorities for their dream home.

  • A conflict between family members may arise while taking the decision to choose one among the two.

  • The person will also have to consider whether the financial resources to close the deal are sufficient or not.

  • Which among the following will be the best suitable options as per their requirement.

Therefore it can be said that while making a trade-off to choose among a house or an apartment, the person will have to go through a number of factors.

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