The Phrase "No Such Thing as a Free Lunch" Means

question 107

Multiple Choice

The phrase "no such thing as a free lunch" means

• A)people must face tradeoffs.
• B)rational people think at the margin.
• C)people respond to incentives.
• D)trade can make everyone better off.

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Definitions:

Innate Needs

Fundamental, inborn requirements essential for basic functioning and well-being.

Cognitive Needs

Basic desires and psychological requirements that drive an individual's thinking, problem-solving, and intellectual growth.

Full Development

The achievement of the maximum potential or capacities in any aspect of human growth, whether physical, emotional, or intellectual.

Cognitive Needs

Mental requirements or desires that individuals have for understanding, exploring, and making sense of their environment and experiences.