A knowledge-based economy is characterized by its focus on knowledge and information as key factors of production, rather than natural resources.

Endogenous growth theory suggests that technological progress, driven by knowledge creation and innovation, is the main determinant of long-term economic growth.

Non-rivalrous knowledge refers to the property of knowledge that it can be shared and used by multiple individuals simultaneously without diminishing its value.

Knowledge transfer refers to the process of sharing and disseminating knowledge between individuals, organizations, and institutions.

A sustainable knowledge-based economy aims to balance economic growth with social and environmental well-being. High levels of income inequality can hinder this balance.

Environmental externalities refer to the negative environmental impacts of economic activities that are not reflected in market prices.

Knowledge-based sustainability emphasizes the role of knowledge and innovation in achieving sustainable development and addressing environmental challenges.

Clean technology refers to technologies that reduce environmental impact and promote sustainability.

Abundance of natural resources is not typically considered a challenge associated with the transition to a knowledge-based economy.

International knowledge spillovers refer to the diffusion of knowledge and innovation across countries and regions.

Depletion of natural resources is not a potential benefit of a knowledge-based economy.

Cornucopianism is the belief that economic growth can continue indefinitely without causing environmental degradation.

Technological stagnation is not a key element of sustainable development.

Knowledge for development refers to the use of knowledge and innovation to address social challenges and improve human well-being.

Abundance of renewable energy sources is not typically considered a challenge associated with the transition to a sustainable knowledge-based economy.