By applying a single concept that is important to the study of economics, it is easy to see that there is no way to get something for free. That principle of economics is known as TINSTAAFL and is an acronym for "there is not such thing as a free lunch." Because resources are scarce, or finite, everything has a cost. Decisions are made in economics about costs and benefits. If a person gets something for...
By applying a single concept that is important to the study of economics, it is easy to see that there is no way to get something for free. That principle of economics is known as TINSTAAFL and is an acronym for "there is not such thing as a free lunch." Because resources are scarce, or finite, everything has a cost. Decisions are made in economics about costs and benefits. If a person gets something for free, some other person is paying for it. For instance, if a student from a low socio-economic background is receiving a free lunch, that lunch is paid for with tax revenues and actually does have a cost. When a high school student is awarded a full scholarship to attend a university, that scholarship has been sponsored of funded by another party. If you were to receive free samples in the mail, the company that sends those samples will assume the cost. In any example that you can think of, a cost is paid by somebody for something that is deemed "free." So to answer your question as an economist, there is no way to get everything that you want for free.
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