what does the phrase theres no such thing as free lunch mean in economic terms
There ain't no such thing as a free lunch The phrase and the acronym are central to Robert Heinlein's 1966 science-fiction novel The Moon Is a Harsh Mistress, which helped popularize it.[2][3] The free-market economist Milton Friedman also popularized the phrase[1] by using it as the title of a 1975 book,[4] and it is used in economics literature to describe opportunity cost.[5] Campbell McConnell writes that the idea is "at the core of economics".[6]
1 + 2 + 3 + 4 + ⋯ which increases without bound as n goes to infinity. Because the sequence of partial sums fails to converge to a finite limit, the series does not have a sum.
Paris Peace Accords
Economics Theory and observation set out the conditions such that market prices of outputs and productive inputs select an allocation of factor inputs by comparative advantage, so that (relatively) low-cost inputs go to producing low-cost outputs. In the process, aggregate output may increase as a by-product or by design.[37] Such specialization of production creates opportunities for gains from trade whereby resource owners benefit from trade in the sale of one type of output for other, more highly valued goods. A measure of gains from trade is the increased income levels that trade may facilitate.[38]