The phrase “There ain’t no such thing as a free lunch” discusses the idea that you can’t get something from nothing and that everything has a cost. This applies not just to when trying to purchase something, but even when something that isn’t physical is obtained or a decision is made. Making decisions on what to use or what to create results in each choice having different costs to get the benefits of it. This idea proves to be true on any scale, from a single person getting a free lunch to international trade. This concept is evidenced in every economic area and decision at any scale. Insurance is very common, but it comes with both costs and benefits leaving some to choose not to have it. Not purchasing insurance saves people money but comes at a cost. Without insurance …show more content…
Regulation can scare away potential businesses from coming to the area they are regulated in because it would become cheaper to be somewhere else. While other factors regarding location come into play as well if there is too much regulation and cost to meet it then businesses will not move or set up at a certain location. Setting up a regulatory committee or agency, monitoring businesses, and dealing with issues all cost the government large sums of money. Tax dollars must be obtained and ultimately become a cost to everyone. Increased taxes or prices in the business also demotivate potential customers and cost the company by lowering sales. Lack of regulation costs everyone as well. WIthout regulation companies can manipulate or abuse employees, and customers. A lack of regulation can also allow companies to deal damage to communities or the environment hurting even those who aren’t affiliated with the company. Introducing regulation to protect some part of the region comes at the cost of increased taxes and dissuading businesses from moving to the location while removing them can hurt the community or make the area unappealing to new people and