Figure 1.3

-Which economic concept is the closest to the saying "There's no free lunch"?

Name: Figure 1.3 -Which economic concept is the closest to the saying "There's no free lunch"?
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Question

Figure 1.3
 
-Which economic concept is the closest to the saying "There's no free lunch"?

Quizplus · Accepted Answer

The saying "There's no free lunch" relates to the concept of opportunity costs. This means that there is a cost to every decision made, and when one chooses to do one thing, they are giving up the opportunity to do something else. Therefore, the best choice is option D, which is opportunity costs.

Figure 1.3 -Which Economic Concept Is the Closest to the Saying "There's