HumanCapitalthe skills,knowledge, andexperiencepossessed bypeople that addsvalue to their jobsgunsversusbuttera simple PPCdepicting all thepossiblecombinations ofdefense goods andconsumer goodsproduced in aneconomyunattainablepointany combination ofpossible outputs thatlies outside the PPCcurve; the point atwhich there are notenough resources toproducelaborlabor the physicaland mental effortscontributed byhumans in theproductionprocessPhysicalCapitalall the thingsrequired bybusinesses toproduce goodsand services fromraw materialsEntrepreneurshipthe act of startinga business bybringing togetherall the otherfactors ofproductionengineersThis resourcefalls underthe laborfactor ofproductionfactor ofproductiona resourceused toproducegoods andservicesoilThis resourcefalls underthe landfactor ofproductionLandall the renewableand nonrenewablenatural resourcesused in theproductionprocessefficiencyusing limitedresources tomaximizeproduction ofgoods andservicesunderutilizationusingresourcesbelow theirmaximumefficiencyproductionpossibilitiescurve(PPC)a graph showingthe total possibleamount of goodsand services thatcan be producedwith limitedavailable resourcesCapitalthe buildings,equipment, andhuman skillsused toproduce goodsand servicestrucks &airplanesThis resourcefalls underthe capitalfactor ofproductionFree!HumanCapitalthe skills,knowledge, andexperiencepossessed bypeople that addsvalue to their jobsgunsversusbuttera simple PPCdepicting all thepossiblecombinations ofdefense goods andconsumer goodsproduced in aneconomyunattainablepointany combination ofpossible outputs thatlies outside the PPCcurve; the point atwhich there are notenough resources toproducelaborlabor the physicaland mental effortscontributed byhumans in theproductionprocessPhysicalCapitalall the thingsrequired bybusinesses toproduce goodsand services fromraw materialsEntrepreneurshipthe act of startinga business bybringing togetherall the otherfactors ofproductionengineersThis resourcefalls underthe laborfactor ofproductionfactor ofproductiona resourceused toproducegoods andservicesoilThis resourcefalls underthe landfactor ofproductionLandall the renewableand nonrenewablenatural resourcesused in theproductionprocessefficiencyusing limitedresources tomaximizeproduction ofgoods andservicesunderutilizationusingresourcesbelow theirmaximumefficiencyproductionpossibilitiescurve(PPC)a graph showingthe total possibleamount of goodsand services thatcan be producedwith limitedavailable resourcesCapitalthe buildings,equipment, andhuman skillsused toproduce goodsand servicestrucks &airplanesThis resourcefalls underthe capitalfactor ofproductionFree!

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