What Does "There Is No Such Thing as a Free

question 55

Multiple Choice

What does "there is no such thing as a free lunch" mean in economics?

• A) Scarce resources are used up to provide "freebies" and giveaways.
• B) Sometimes people may take friends out to lunch and pay for them.
• C) All items in the lunch menu have specific prices.
• D) Products only have value because people are willing to pay for them.

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Definitions:

Statutory Interpretation

The process by which courts analyze and apply legislation to the facts of a case, determining the intent behind a statute and how it should be implemented.

Plain-Meaning Rule

A legal principle that dictates courts should interpret statutes based on the ordinary meaning of the language of the statute, unless the context indicates otherwise.

Higher Court

A court with the authority to review decisions made by lower courts, often referred to as appellate courts.

Citation

A formal reference to a legal case, statute, or legal authority.