What does the economic phrase "There is no such thing as a free lunch" mean?
1 answer
The economic phrase "There is no such thing as a free lunch" suggests that everything has a cost associated with it. It implies that even if something appears to be free, there are hidden costs or trade-offs involved. In economic terms, it emphasizes the principle of scarcity and opportunity cost, stating that every choice we make comes with a cost in terms of foregone alternatives. Therefore, while something may seem free upfront, it often involves sacrificing resources, time, or money elsewhere.