PhysicalCapitalall the thingsrequired bybusinesses toproduce goodsand services fromraw materialsCapitalthe buildings,equipment, andhuman skillsused toproduce goodsand servicesunattainablepointany combination ofpossible outputs thatlies outside the PPCcurve; the point atwhich there are notenough resources toproducefactor ofproductiona resourceused toproducegoods andservicesefficiencyusing limitedresources tomaximizeproduction ofgoods andservicesoilThis resourcefalls underthe landfactor ofproductionHumanCapitalthe skills,knowledge, andexperiencepossessed bypeople that addsvalue to their jobstrucks &airplanesThis resourcefalls underthe capitalfactor ofproductionEntrepreneurshipthe act of startinga business bybringing togetherall the otherfactors ofproductionproductionpossibilitiescurve(PPC)a graph showingthe total possibleamount of goodsand services thatcan be producedwith limitedavailable resourcesengineersThis resourcefalls underthe laborfactor ofproductionLandall the renewableand nonrenewablenatural resourcesused in theproductionprocessgunsversusbuttera simple PPCdepicting all thepossiblecombinations ofdefense goods andconsumer goodsproduced in aneconomyunderutilizationusingresourcesbelow theirmaximumefficiencylaborlabor the physicaland mental effortscontributed byhumans in theproductionprocessFree!PhysicalCapitalall the thingsrequired bybusinesses toproduce goodsand services fromraw materialsCapitalthe buildings,equipment, andhuman skillsused toproduce goodsand servicesunattainablepointany combination ofpossible outputs thatlies outside the PPCcurve; the point atwhich there are notenough resources toproducefactor ofproductiona resourceused toproducegoods andservicesefficiencyusing limitedresources tomaximizeproduction ofgoods andservicesoilThis resourcefalls underthe landfactor ofproductionHumanCapitalthe skills,knowledge, andexperiencepossessed bypeople that addsvalue to their jobstrucks &airplanesThis resourcefalls underthe capitalfactor ofproductionEntrepreneurshipthe act of startinga business bybringing togetherall the otherfactors ofproductionproductionpossibilitiescurve(PPC)a graph showingthe total possibleamount of goodsand services thatcan be producedwith limitedavailable resourcesengineersThis resourcefalls underthe laborfactor ofproductionLandall the renewableand nonrenewablenatural resourcesused in theproductionprocessgunsversusbuttera simple PPCdepicting all thepossiblecombinations ofdefense goods andconsumer goodsproduced in aneconomyunderutilizationusingresourcesbelow theirmaximumefficiencylaborlabor the physicaland mental effortscontributed byhumans in theproductionprocessFree!

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
I I
2
N N
3
N N
4
G G
5
I I
6
I I
7
B B
8
N N
9
I I
10
G G
11
N N
12
B B
13
G G
14
B B
15
G G
16
B
  1. I-all the things required by businesses to produce goods and services from raw materials
    I-Physical Capital
  2. N-the buildings, equipment, and human skills used to produce goods and services
    N-Capital
  3. 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
  4. G-a resource used to produce goods and services
    G-factor of production
  5. I-using limited resources to maximize production of goods and services
    I-efficiency
  6. I-This resource falls under the land factor of production
    I-oil
  7. B-the skills, knowledge, and experience possessed by people that adds value to their jobs
    B-Human Capital
  8. N-This resource falls under the capital factor of production
    N-trucks & airplanes
  9. I-the act of starting a business by bringing together all the other factors of production
    I-Entrepreneurship
  10. 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)
  11. N-This resource falls under the labor factor of production
    N-engineers
  12. B-all the renewable and nonrenewable natural resources used in the production process
    B-Land
  13. G-a simple PPC depicting all the possible combinations of defense goods and consumer goods produced in an economy
    G-guns versus butter
  14. B-using resources below their maximum efficiency
    B-underutilization
  15. G-labor the physical and mental efforts contributed by humans in the production process
    G-labor
  16. B-Free!