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1. Value
2. Need
3. Want
4. Trade off
5. Opportunity Cost

giving one thing up for another

something you can't live without

The worth of something

Something you want you

the amount of money that a corporation or organization loses by deciding to do one thing instead of another

trading something off

Something you need to survive

the usefulness and worth of something

you can live without it

The loss of potential gain from other alternatives when one alternative is chosen