The Idea in Economics That "There Is No Free Lunch

question 23

Multiple Choice

The idea in economics that "there is no free lunch" means that:

• A) Businesses would go bankrupt if they offered free lunches
• B) The thought of a free lunch is often better than the reality of consuming it
• C) There are opportunity costs involved even in free lunches
• D) Free lunches used by businesses to attract customers is an inefficient marketing ploy

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Definitions:

Arbiter of Disputes

An impartial third party, often a mediator or arbitrator, who is called upon to resolve a dispute or conflict between two or more parties.

Skilled Craft Workers

Individuals with specialized training and expertise in specific trades who are capable of performing complex tasks within their area of expertise.

Industrial Workers

Individuals employed in sectors concerned with producing goods through physical labor and machinery, often in factories or production lines.

Critical Industrial Relations

The examination of labor relationships, focusing on power dynamics, conflict resolution, and the impact of external factors.