Microecon question!?

Question

You have probably heard the saying "There is no such thing as a free lunch." In the orld of economics, why is there no such thing as "free time"?

Answer 1

It's all about opportunity costs....and what you have forgone. when you choose to do something, u are forgoing something else. i.e never free

Answer 2

The word "free" in "free time" refers

to having no plans or not having to

work at that given time. Here "free"

has a different definition from "no cost".

Of course time (like lunch) is not free either.

There is always a price spending time doing

something instead of another. The price is the

time we can't spend doing something else we'd

like to be doing.

Answer 3

The growth or shrinkage of the economy is measured in GDP which an indicator of the "efficiency" of the country to generate wealth from it's resources.  Any time that is not used for that purpose is costing the economy money because wasted time lowers efficiency.  So, time is not free.