Which term best describes a sunset or knowledge?

a.Non-rival good

b.Transfer payment

c.Trade-off

d.Rival good

e.Economic constraint

Which of the following most accurately describes why trade-offs are necessary?

a.There are easily overlooked associated costs for many purchases.

b.The raw material for every good in the product market came from the input market.

c.Any choice involves sacrificing the alternatives that could have been chosen.

d.Nearly all the factors of production are final goods.

e.A portion of all business revenue must be spent on production costs.

All of the following are typically considered capital goods except

a.the machinery in a factory

b.the software a business owns

c.cooked hot dogs at a sporting event

d.a carpenter's tools

e.a professional musician's instruments