People usually exploit opportunities to make themselves better off.

1. Larry has an incentive to spend more time on swimming than on biking or running.
2. People face trade-offs.
3. Larry can use time most efficiently by spending the same amounts of time on swimming, biking, and running.

People face trade-off after cost and benefit analysis. for example, spending more time studying economics involve a benefit (a benefit is to get high marks in the subject). and cost is you could have spent that time doing something else, such as working in a restaurant to earn money. That is, your decision involves a trade-offs.

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People usually exploit opportunities to make themselves better off. 1. Larry has an incentive to spend more time on swimming than on biking or running. 2. People face trade-offs. 3. Larry can use time most efficiently by spending the same amounts of time on swimming, biking, and running.

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People usually exploit opportunities to make themselves better off.

1. Larry has an incentive to spend more time on swimming than on biking or running.
2. People face trade-offs.
3. Larry can use time most efficiently by spending the same amounts of time on swimming, biking, and running.