Landall the renewableand nonrenewablenatural resourcesused in theproductionprocessproductionpossibilitiescurve(PPC)a graph showingthe total possibleamount of goodsand services thatcan be producedwith limitedavailable resourcesgunsversusbuttera simple PPCdepicting all thepossiblecombinations ofdefense goods andconsumer goodsproduced in aneconomyCapitalthe buildings,equipment, andhuman skillsused toproduce goodsand servicesoilThis resourcefalls underthe landfactor ofproductionPhysicalCapitalall the thingsrequired bybusinesses toproduce goodsand services fromraw materialsefficiencyusing limitedresources tomaximizeproduction ofgoods andservicesunattainablepointany combination ofpossible outputs thatlies outside the PPCcurve; the point atwhich there are notenough resources toproduceFree!factor ofproductiona resourceused toproducegoods andserviceslaborlabor the physicaland mental effortscontributed byhumans in theproductionprocessEntrepreneurshipthe act of startinga business bybringing togetherall the otherfactors ofproductionunderutilizationusingresourcesbelow theirmaximumefficiencytrucks &airplanesThis resourcefalls underthe capitalfactor ofproductionHumanCapitalthe skills,knowledge, andexperiencepossessed bypeople that addsvalue to their jobsengineersThis resourcefalls underthe laborfactor ofproductionLandall the renewableand nonrenewablenatural resourcesused in theproductionprocessproductionpossibilitiescurve(PPC)a graph showingthe total possibleamount of goodsand services thatcan be producedwith limitedavailable resourcesgunsversusbuttera simple PPCdepicting all thepossiblecombinations ofdefense goods andconsumer goodsproduced in aneconomyCapitalthe buildings,equipment, andhuman skillsused toproduce goodsand servicesoilThis resourcefalls underthe landfactor ofproductionPhysicalCapitalall the thingsrequired bybusinesses toproduce goodsand services fromraw materialsefficiencyusing limitedresources tomaximizeproduction ofgoods andservicesunattainablepointany combination ofpossible outputs thatlies outside the PPCcurve; the point atwhich there are notenough resources toproduceFree!factor ofproductiona resourceused toproducegoods andserviceslaborlabor the physicaland mental effortscontributed byhumans in theproductionprocessEntrepreneurshipthe act of startinga business bybringing togetherall the otherfactors ofproductionunderutilizationusingresourcesbelow theirmaximumefficiencytrucks &airplanesThis resourcefalls underthe capitalfactor ofproductionHumanCapitalthe skills,knowledge, andexperiencepossessed bypeople that addsvalue to their jobsengineersThis resourcefalls underthe laborfactor ofproduction

Production Curves - Call List

(Print) Use this randomly generated list as your call list when playing the game. Place some kind of mark (like an X, a checkmark, a dot, tally mark, etc) on each cell as you announce it, to keep track. You can also cut out each item, place them in a bag and pull words from the bag.


1
B B
2
G G
3
G G
4
N N
5
I I
6
I I
7
I I
8
N N
9
B
10
G G
11
G G
12
I I
13
B B
14
N N
15
B B
16
N N
  1. B-all the renewable and nonrenewable natural resources used in the production process
    B-Land
  2. G-a graph showing the total possible amount of goods and services that can be produced with limited available resources
    G-production possibilities curve (PPC)
  3. G-a simple PPC depicting all the possible combinations of defense goods and consumer goods produced in an economy
    G-guns versus butter
  4. N-the buildings, equipment, and human skills used to produce goods and services
    N-Capital
  5. I-This resource falls under the land factor of production
    I-oil
  6. I-all the things required by businesses to produce goods and services from raw materials
    I-Physical Capital
  7. I-using limited resources to maximize production of goods and services
    I-efficiency
  8. N-any combination of possible outputs that lies outside the PPC curve; the point at which there are not enough resources to produce
    N-unattainable point
  9. B-Free!
  10. G-a resource used to produce goods and services
    G-factor of production
  11. G-labor the physical and mental efforts contributed by humans in the production process
    G-labor
  12. I-the act of starting a business by bringing together all the other factors of production
    I-Entrepreneurship
  13. B-using resources below their maximum efficiency
    B-underutilization
  14. N-This resource falls under the capital factor of production
    N-trucks & airplanes
  15. B-the skills, knowledge, and experience possessed by people that adds value to their jobs
    B-Human Capital
  16. N-This resource falls under the labor factor of production
    N-engineers