define the following with short answers with simple words: Trade-off Consequences Adam Smith Invisible Hand Theory Marginal utility Marginal cost Marginal benefit Marginal Decision Making TINSTAAFL (There Is No Such Thing as A Free Lunch)

Sure! Here are simple definitions for each term:

**Trade-off**: Giving up one thing to get something else.
   
**Consequences**: The results or effects of an action.

**Adam Smith**: An economist known as the father of economics, famous for his ideas on free markets.

**Invisible Hand Theory**: The idea that individuals seeking their own benefits can positively affect society as a whole.

**Marginal utility**: The extra satisfaction or benefit from using one more unit of a good or service.

**Marginal cost**: The additional cost of producing one more unit of a good or service.

**Marginal benefit**: The extra benefit gained from consuming or producing one more unit of a good or service.

**Marginal Decision Making**: Making choices based on the additional costs and benefits of each option.

**TINSTAAFL (There Is No Such Thing as A Free Lunch)**: The idea that everything has a cost, even if it seems free.