What is meant by the phrase, "There is no such thing as a free lunch"?
What will be an ideal response?
Markets are generally efficient, which implies that profit opportunities are eliminated quickly.
Economics
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Homogeneous goods are ________
A) perfect complements B) perfect substitutes C) similar but not identical D) always inferior
Economics
Commodity money is a good
A) used as money that has no secondary use. B) that is designated as money by law. C) used as money that also has value independent of its use as money. D) used as money that has no intrinsic value.
Economics