The basic difference between consumer goods and capital goods is that:
A. consumer goods are produced in the private sector and capital goods are produced in the public sector.
B. an economy that commits a relatively large proportion of its resources to capital goods must accept a lower growth rate.
C. the production of capital goods is not subject to the law of increasing opportunity costs.
D. consumer goods satisfy wants directly while capital goods satisfy wants indirectly.
Answer: D
You might also like to view...
James' pretzel stand merges with a company that supplies the condiments to James. This is an example of
A) conglomerate merger. B) concentration ratio. C) vertical merger. D) horizontal merger.
The sample size for a time series data set is the number of:
A. variables being measured. B. time periods over which we observe the variables of interest less the number of variables being measured. C. time periods over which we observe the variables of interest plus the number of variables being measured. D. time periods over which we observe the variables of interest.