Meaning of the word "trade offs" in English

What does "trade offs" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

trade offs

US /ˈtreɪdˌɔfs/
UK /ˈtreɪdˌɒfs/

Plural Noun

situations in which you must choose between two things, or you must give up something in order to get something else

Example:
There are always trade-offs between quality and cost.
Making decisions often involves difficult trade-offs.