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:

Internet

A global network of interconnected computers and servers that enables instant communication, information sharing, and access to a vast array of resources.

Community

A group of people living in the same place or having a particular characteristic in common, often bound by a sense of unity or shared identity.

Social Exchange Theory

A theoretical framework suggesting that social behavior is the result of an exchange process aiming to maximize benefits and minimize costs to the individuals.

Community Psychologists

Professionals who apply psychological principles and research to assess and improve the well-being of communities and the individuals within them.