Which economic concept does the expression "there's no such thing as a free lunch" reflect?
A)opportunity cost
B)specialization
C)market exchange
D)comparative advantage
E)efficiency

Question

Quizplus · Accepted Answer

The expression "there's no such thing as a free lunch" means that everything has a cost, and even things that seem free have an opportunity cost. In other words, even if something is given to us for "free", there is still a cost to producing it or providing it, and that cost must be borne by someone. This reflects the economic concept of opportunity cost, which is the cost of the next best alternative that must be forgone in order to pursue a certain action.

Which Economic Concept Does the Expression "There's No Such Thing