There Is No Such Thing As A Free Lunch

What does TANSTAAFL stand for?

• The Art of Negotiation

• Try And Never Stop Trying, Always Fight Like

• There Ain't No Such Thing As A Free Lunch

• Take A Nap, Start Tomorrow, Always Find Love

Who is TANSTAAFL attributed to?

• Milton Friedman

• Adam Smith

• Karl Marx

• John Maynard Keynes

What does TANSTAAFL mean?

• There's always a cost to any decision

• Everything is free

• There's always a free lunch

• There's always a catch

What does TANSTAAFL explain about fun jobs and wages?

• Fun jobs have equal wages

• Fun jobs have no impact on wages

• Fun jobs pay higher wages

• Fun jobs pay lower wages

Why is there nothing free in Economics? Choose ALL that apply! :)

• If you choose one thing you give up getting something else

• There is no such thing as a free lunch

• something appearing to be free will always have some hidden or implicit cost to someone,

What is the main idea behind the phrase 'There Is No Such Thing As A Free Lunch'?

• Everything has a cost

• Some things are free

• Lunch is always expensive

• Free things are abundant

Which economic principle is illustrated by the phrase 'There Is No Such Thing As A Free Lunch'?

• Opportunity cost

• Supply and demand

• Inflation

• Market equilibrium

Who popularized the phrase 'There Is No Such Thing As A Free Lunch' in economics?

• Milton Friedman

• Adam Smith

• John Keynes

• Karl Marx

In which book did Milton Friedman discuss the concept of 'There Is No Such Thing As A Free Lunch'?

• Capitalism and Freedom

• The Wealth of Nations

• Das Kapital

• The General Theory

What does the phrase 'There Is No Such Thing As A Free Lunch' imply about resources?

• Resources are limited

• Resources are unlimited

• Resources are free

• Resources are abundant