优劣

優劣
yōuliè
  1. good and bad
  2. merits and drawbacks

CEDICT

good and bad; superiority or inferiority; quality; (relative) merits

Wiktionary

美好与恶劣，好与坏。

重編國語辭典

  1. 美好与恶劣，好与坏
  2. 评定高下好坏

維基詞典

Entry Composition

1 优 yōu
  1. excellent
  2. superior
2 劣 liè inferior

Related entries

好歹 hǎodǎi
  1. good and bad
  2. most unfortunate occurrence
  3. in any case
  4. whatever
好坏 hǎohuài
  1. good or bad
  2. good and bad
  3. standard; quality
  4. (coll.) very bad
他好坏不分。

He doesn't know the difference between right and wrong.

Source: Tatoeba

利弊 lìbì
  1. pros and cons
  2. merits and drawbacks
  3. advantages and disadvantages