Free goods have great …………..

✅Explanation: Free goods are those goods that are available in abundance and have no price. Even though they are free, they still provide utility or satisfaction to the consumer, hence they have high value in use. However, they lack value in exchange as they are not scarce and do not command a price in the market

🔑Key Points::
-A free good is a good with zero opportunity cost.
-This means it can be consumed in as much quantity as needed without reducing its availability to others.
-Example sunlight, ideas, music or air.
-Opportunity costs represent the benefits an individual, investor or business misses out on when choosing one alternative over another.
-It is the “cost” incurred by not enjoying the benefit associated with the best alternative choice.
-Opportunity Cost = FO−CO, where: FO=Return on best-foregone option, CO=Return on chosen option.