What Do You Do When Down Material

If you are down material, then trade pawns, not pieces.
If you are up material, then trade pieces, not pawns.




Really don't ever give up...unless you feel there is no possible way of winning or getting stalemated. And look for your opponent's mistakes...I have had games where there was no way I was going to win, but my opponent blundered a piece, and I was able to win.
When playing games, it also depends upon how many seconds or minutes your opponent has, if they are below 2 or 3 minutes you still have chance. Just try not to trade, and counterattack them...like in this position:


I agree with tygxc (#5) and DoYouLikeCurry (#15). To further explain tygxc's point about trading pawns when you're down material... eliminating pawns will reduce your opponent's chances to use their material advantage to queen a pawn. If all the pawns are gone, they won't be able to beat you if they're only up by a knight or bishop. Or even if they're up by 2 minor pieces, it's hard for them to win without a pawn.