1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
s2008m [1.1K]
3 years ago
5

"There is no such thing as a free lunch" is a famous economic expression that means everything has a cost. In 1 or 2 sentences,

describe how this expression relates to opportunity cost.
History
2 answers:
cupoosta [38]3 years ago
8 0
"There ain't no such thing as a free lunch" expresses the idea that even if something seems like it is free, there is always a cost, no matter how indirect or hidden. 
Karolina [17]3 years ago
8 0

The correct answer is: "everything has a cost, if not a explicit one at least a opportunity cost".

The opportunity cost has to be considered when making a decision. It is defined as the value of the best alternative rejected when choosing a certain option. This concept shows that every good/service, even when it is consumed at a zero price, entails a cost. For example, there is a free concert in the street, but the time spent on its consumption is a resource that could be dedicated to an alternative activity that has a value and such value is the opportunity cost.

You might be interested in
"What is the main idea of this cartoon?
Umnica [9.8K]
The answer to this would most definitely be number 2 (:
4 0
3 years ago
During the Nullification Crisis of 1832, South Carolina threatened to secede from the Union because it disagreed with a federal
nlexa [21]

Simple Answer: Tariffs

A tariff is a tax (in this case) on imports. The South, particularly South Carolina, objected strongly to the high rate of taxation on goods she desparately needed. The rates did seem a little high -- 62% on 92% of the goods coming into South Carolina (and other southern states). For example if South Carolina want to import 1000 dollars worth of shovels, she would have to pay an additional 620 dollars to do it.

The acts of 1828 and 1832 were thought by the South to be ruinous because not only would she be forced to pay much more for basic needs, she would not be able to sell her cotton to Great Britain because of the way the tax was imposed.

Thus a very strong case was built for disobedience to the 1828 and 1832 acts.   What made those two acts a pain was that North was determined to force unity on a South that had other economic problems during the 1830s (like drought). So the nullification process meant that something had to be done or South Carolina was threatening to go to war to protect her economy.

Thus the Tariff act of 1833 was introduced, and though you have not asked anything about that, I think you should note that Act was intended to unruffle South Carolina's feathers.  It was a grand compromise devised by Andrew Jackson's administration. It succeeded until 1842 when it's tenure was up. You can read all of this by reading more about the Nullification Crisis. Be sure and read about Jackson's comments on it.  

So this rather complex turn of events all really hinged on money and standard's of living. The vocabulary used was States Rights Vs Federal Rights. Put in very simple language: who has more rights, the one or the many? It took a civil war some 30 years later to resolve that question.

6 0
3 years ago
In order to win an election, what does a major party do?
Makovka662 [10]
In order to win an election a major party must revive votes
5 0
3 years ago
What was the diaspora
IrinaVladis [17]
The diaspora was the dispersion of jews among the gentiles after the babylonain Exile
8 0
4 years ago
Which of the following are effective strategies for looking up words in the dictionary when reading? Select all that apply
FrozenT [24]
Put a bookmark and then go look up the word in the dictionary.Then continue reading.
5 0
3 years ago
Read 2 more answers
Other questions:
  • After losing battle after battle in New York during 1776-
    5·1 answer
  • What two lenses is bipolar.
    14·1 answer
  • During the Chinese Civil War, which side was led by Mao Zedong?
    10·2 answers
  • How is this map different from a typical map of the united states?
    10·2 answers
  • Which two presidential election opponents fought each other in two back to back elections?
    10·1 answer
  • Which of the following was one of Britain's most important allies during World War I? A. France B. Germany C. Japan D. Russia
    7·1 answer
  • what was the main issue for why possible delegates didn't go the constitutional convention ? A increasing power of the national
    15·1 answer
  • plz help ASAP if ur good with history and lerned about perl habor!! you dot have to answer all of them
    12·1 answer
  • 1. What is a key principal of the U.S. Constitution?
    5·2 answers
  • How was Hitler's Nazis reoccupiedthe Rhineland?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!