In Economics, the Statement, "There Is No Such Thing as a Free

question 142

Multiple Choice

In economics, the statement, "There is no such thing as a free lunch," refers to which of the following?

• A) Individuals must always pay personally for the lunch they consume.
• B) Production of a good requires the use of scarce resources regardless of whether it is supplied free to the consumers.
• C) Restaurant owners would never give away free lunches.
• D) All good theories are testable.

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Definitions:

Shading

The technique in drawing and art of adding darkness to convey the sense of depth, volume, or to create the illusion of shadow.

Noncontradictory Propositions

Statements or claims that do not contradict each other, meaning they can both be true at the same time in the same context.

Nonequivalent

Not equal in value, measure, force, effect, significance, etc.; lacking equivalence or equality.

Obverse

The proposition that results from changing the quality of a categorical proposition and replacing the predicate term with its complement.