What does "zero sum game" mean?
A "zero sum game" is a situation in which one person's gain is exactly balanced by another person's loss, so that the net change in total wealth or benefit is zero. In other words, in a zero sum game, the total benefit or advantage gained by all participants is always zero.
Here are some examples of how it can be used in a sentence:
"Negotiating with the other side can be tough, because it's a zero sum game. Every concession we make means a win for them, and vice versa."
"In a zero sum game, one person's gain is always balanced by another person's loss. This means that no one can win without someone else losing."
Choose the correct option to practice usage of 'Zero sum game':
What does "zero sum game" mean?
a. A situation in which everyone wins
b. A situation in which everyone loses
c. A situation in which the total benefit gained by all participants is zero d. A situation in which the total benefit gained by some participants is offset by the losses of others
Which of the following is an example of a zero sum game?
a. A game of poker in which the total amount of money won by all players is equal to the total amount of money lost by all players
b. A game of tennis in which both players improve their skills and become better players
c. A game of chess in which the winner receives a prize and the loser receives nothing
d. A game of basketball in which the winning team receives a trophy and the losing team receives a consolation prize
The correct answers for the practice examples are: c and a.
Conclusion:
In conclusion, a "zero sum game" is a situation in which one person's gain is exactly balanced by another person's loss, so that the net change in total wealth or benefit is zero. This means that in a zero sum game, the total benefit or advantage gained by all participants is always zero. It is often used in the context of negotiation or competition to describe situations in which one person's gain necessarily comes at the expense of another person's loss.
Zero sum game can be used as a phrase in conversation.
What this phrase means is whatever one person wins the other person looses and there are no winners in the situation.
John and I were both given the opportunity of an interview for a position, John declined the interview as he didn't see an opportunity, I went to the interview as I could see the opportunity. I saw an opportunity but John didn't, so ones loss is another one's gain.
John's loss is my gain.
a mathematical representation in game theory and economic theory of a situation which involves two sides, where the result is an advantage
money, bullion, ornament, stocks and shares, property, and other movable or immovable assets are acquired by man in his life, the same is either transferred or lost or bequeathed to others by the time of death or even after it. Life is indeed a zero-sum game
Zero-Sum Game Meaning
A zero-sum game refers to a competitive situation wherein the profit of one equals the loss of another and vice-versa, thereby nullifying the net change in wealth for participants involved. The number of participants can be anything but one. It is a type of game theory and often applies in economic and political situations.
The idea is not only applicable for games, but it is also suitable in other affairs, such as trade, war, love, and life. It is more common in trading in financial markets, where one party wins a contract at the loss of the other. While futures and options trading is excellent for a situation like this, stock market investors may not always expect the same due to other factors impacting the trade.