gunsversusbuttera simple PPCdepicting all thepossiblecombinations ofdefense goods andconsumer goodsproduced in aneconomyproductionpossibilitiescurve(PPC)a graph showingthe total possibleamount of goodsand services thatcan be producedwith limitedavailable resourcesefficiencyusing limitedresources tomaximizeproduction ofgoods andserviceslaborlabor the physicaland mental effortscontributed byhumans in theproductionprocessfactor ofproductiona resourceused toproducegoods andservicesEntrepreneurshipthe act of startinga business bybringing togetherall the otherfactors ofproductionHumanCapitalthe skills,knowledge, andexperiencepossessed bypeople that addsvalue to their jobstrucks &airplanesThis resourcefalls underthe capitalfactor ofproductionFree!engineersThis resourcefalls underthe laborfactor ofproductionoilThis resourcefalls underthe landfactor ofproductionunattainablepointany combination ofpossible outputs thatlies outside the PPCcurve; the point atwhich there are notenough resources toproduceunderutilizationusingresourcesbelow theirmaximumefficiencyCapitalthe buildings,equipment, andhuman skillsused toproduce goodsand servicesPhysicalCapitalall the thingsrequired bybusinesses toproduce goodsand services fromraw materialsLandall the renewableand nonrenewablenatural resourcesused in theproductionprocessgunsversusbuttera simple PPCdepicting all thepossiblecombinations ofdefense goods andconsumer goodsproduced in aneconomyproductionpossibilitiescurve(PPC)a graph showingthe total possibleamount of goodsand services thatcan be producedwith limitedavailable resourcesefficiencyusing limitedresources tomaximizeproduction ofgoods andserviceslaborlabor the physicaland mental effortscontributed byhumans in theproductionprocessfactor ofproductiona resourceused toproducegoods andservicesEntrepreneurshipthe act of startinga business bybringing togetherall the otherfactors ofproductionHumanCapitalthe skills,knowledge, andexperiencepossessed bypeople that addsvalue to their jobstrucks &airplanesThis resourcefalls underthe capitalfactor ofproductionFree!engineersThis resourcefalls underthe laborfactor ofproductionoilThis resourcefalls underthe landfactor ofproductionunattainablepointany combination ofpossible outputs thatlies outside the PPCcurve; the point atwhich there are notenough resources toproduceunderutilizationusingresourcesbelow theirmaximumefficiencyCapitalthe buildings,equipment, andhuman skillsused toproduce goodsand servicesPhysicalCapitalall the thingsrequired bybusinesses toproduce goodsand services fromraw materialsLandall the renewableand nonrenewablenatural resourcesused in theproductionprocess

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