merits and demerits; advantages and disadvantages; good points and shortcomings
Used to describe something that has both strong and weak points; often appears in balanced evaluations.
Every proposal has its merits and demerits.
This system has both advantages and disadvantages, so introducing it is not straightforward.
Every method has its own advantages and disadvantages.
This apartment is close to the station but expensive, so it has both good and bad points.