WHAT IS THE ECONOMIC MEANING OF THE EXPRESSION THAT "THERE IS...

10. What is the economic meaning of the expression that "there is no such thing as a free lunch"?It refers to "free-riders," who do not pay for the cost of a product but who receive the benefit from it.It means that economic freedom is limited by the amount of income available to the consumer.→ It means there is an opportunity cost when resources are used to provide "free" products.It indicates that products only have value because people are willing to pay for them. AACSB: Reflective ThinkingBlooms: ApplyDifficulty: 2 MediumLearning Objective: 01-01 Define economics and the features of the economic perspective.Topic: Economic perspectivesMultiple Choice Question Topic: Economics