Meaning of the word tradeoff in English

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

tradeoff

US /ˈtreɪdˌɔf/
UK /ˈtreɪdˌɒf/

Noun

a balance achieved between two desirable but incompatible features; a compromise

Example:
There's always a tradeoff between quality and cost.
The new design offers a good tradeoff between performance and battery life.