What does "there is no such thing as a free lunch" mean in economics?
A) That scarce resources are used up to provide "freebies" and giveaways
B) That sometimes people may take friends out to lunch and pay for them
C) That all items in the lunch menu have specific prices
D) That products only have value because people are willing to pay for them

Question

Quizplus · Accepted Answer

In economics, "there is no such thing as a free lunch" means that even if something appears to be free, there are still costs involved, whether it be the opportunity cost of using scarce resources to provide the free item or the cost of advertising to attract customers to accept the "free" offer.

What Does "There Is No Such Thing as a Free