Describe an important trade-off you faced in life, along with the options associated with it. Why did you faced tradeoff as in what limitation/scarcity you experienced at that point of your life? What was the opportunity cost of making that decision? On what basis you made a decision, as in your preference, for example if you choose to attend class rather spending time socializing it means you value intellectual gains over hanging out.

(I expect you to attempt this question like story telling in a short paragraph where you cover all these aspects)

Example can be related to any important event in your personal life e.g deciding a college/university to study, deciding about career specialization, deciding what car, laptop to buy? Deciding a vacation spot? It can be anything you consider as an important decision in your life.