In athletics, sprinting requires different physical characteristics than a marathon. As such, the two competitions have different events in competitions such as the Olympics, and each pursuit involves different teams of athletes. The question of whether a professional runner is better suited to marathon running than sprinting is a trade-off based on the runner`s morphology and physiology (e.g., variation in muscle fiber type), as well as the runner`s individual interest, preferences, and other motivating factors. This trade-off is primarily from the perspective of a sport facilitator deciding what role a potential athlete would best play on a team. The meaning of compromise is similar to that of opportunity cost The concept of compromise is often used to describe everyday situations. [4] Garbage cans used indoors, then taken to the street and emptied into a dumpster, can be small or large. A large garbage can doesn`t need to be placed in the dumpster as often, but it can become so heavy when it`s full that the user may get tired or hurt their back while moving. The choice of trash can is a compromise between how often garbage should be taken out for the dumpster and ease of use and safety. In the case of food waste, a second trade-off is appropriate, as large garbage cans tend to stay in the kitchen for a long time, resulting in higher levels of food breakdown inside and potential pest attraction. With a small garbage can, the trash can is more often brought to the dumpster, eliminating the persistent rot that attracts pests. Sure, a user of a large trash can could carry the can outside frequently anyway, but the heavier can would weigh more and the user would have to think more about when to take out the can or limit themselves to a schedule, compared to a smaller can that is obviously full when removed.

According to the NTEP, the term “used for trade” refers to equipment used for sale, purchase, exchange, transfer of custody or to determine the cost of services or rental based on the measure. A good example where legality is an absolutely essential standard for trade is the medical industry. In demography, examples of trade-offs may include maturity, fertility, parental care, parity, senescence, and choice of partner. For example, the higher the fertility (number of offspring), the lower the parental care that each offspring receives. Any company that sells goods based on weight must ensure that the equipment used to obtain this data meets the criteria of “commercial law”. The following list provides examples of typical applications where a commercially approved scale might be required: In all commercial applications where products are sold by weight, it is mandatory that scales be verified as “trade legal” or “commercially approved”. In summary, this means that the device has undergone a series of rigorous tests to ensure that it is sufficiently accurate and fit for purpose. Legal tender serves several purposes. By default, it is used by market participants to perform the functions of money in the economy: an indirect medium of exchange, a unit of account, a store of value, and a deferred payment standard. Proponents of legal tender laws argue that markets generally do not produce the optimal type, quality, and quantity of money, and that legal tender increases the usefulness of money as a means of reducing transaction costs. In particular, legal tender can allow flexibility in the money supply, and a single currency can eliminate the transaction costs associated with using multiple competing currencies. The introduction of legal tender is a means of achieving a single currency.

However, there are some exceptions. In 2018, in the face of devastating hyperinflation, Venezuelan President Nicolas Madura ordered all federal institutions to accept a new electronic currency, the Petro, as legal tender. The Venezuelan Petro is centrally controlled by the Venezuelan government based on its own assessment of the value of its natural resources.