What is meant by ‘free goods’?
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"Free goods" refer to goods that are naturally abundant and do not require any effort or sacrifice to obtain. These goods are available in such abundance that they are not considered scarce, and therefore, they do not have any opportunity cost associated with their use.
Examples of free goods include air, sunlight, and water from natural sources like rivers and lakes. These goods are readily available in the environment and can be used without reducing their availability for others. Since they are abundant and freely accessible, they do not command a price in the market.
However, it's worth noting that while these goods may be free in the sense of not requiring payment, there may still be costs associated with their extraction, purification, or distribution. Additionally, in some cases, the overuse or exploitation of free goods can lead to environmental degradation or depletion, highlighting the importance of sustainable management practices.