Which economic concept is the closest to the saying "There's no free lunch"?

a. Specialization
b. Unlimited wants
c. Underutilization of resources
d. Opportunity costs
e. Overutilization of resources

d

Economics

You might also like to view...

The general public has strong incentives to be informed about regulations that impact them

a. True b. False

Economics

The above figure shows the isoquants for producing steel. Constant returns to scale are

A) present when producing less than 10,000 tons. B) present when producing between 10,000 and 20,000 tons. C) present when producing more than 20,000 tons. D) never present.

Economics