a.

b.

c.

The following illustrates the concept of opportunity cost, except for If I buy a ticket to see my favourite band, I will not be able to buy my mother a birthday present. Resources devoted to the production of consumer goods are not available for capital goods production. A growing economy can produce more consumer goods and substitute capital goods in the economy at the same time. A farmer's land is planted with rice, therefore, it is not available for growing other grain or vegetable crops.