Landall the renewableand nonrenewablenatural resourcesused in theproductionprocessEntrepreneurshipthe act of startinga business bybringing togetherall the otherfactors ofproductionlaborlabor the physicaland mental effortscontributed byhumans in theproductionprocessFree!efficiencyusing limitedresources tomaximizeproduction ofgoods andservicesPhysicalCapitalall the thingsrequired bybusinesses toproduce goodsand services fromraw materialsfactor ofproductiona resourceused toproducegoods andservicesgunsversusbuttera simple PPCdepicting all thepossiblecombinations ofdefense goods andconsumer goodsproduced in aneconomyproductionpossibilitiescurve(PPC)a graph showingthe total possibleamount of goodsand services thatcan be producedwith limitedavailable resourcesHumanCapitalthe skills,knowledge, andexperiencepossessed bypeople that addsvalue to their jobsCapitalthe buildings,equipment, andhuman skillsused toproduce goodsand servicesengineersThis resourcefalls underthe laborfactor ofproductiontrucks &airplanesThis resourcefalls underthe capitalfactor ofproductionunattainablepointany combination ofpossible outputs thatlies outside the PPCcurve; the point atwhich there are notenough resources toproduceoilThis resourcefalls underthe landfactor ofproductionunderutilizationusingresourcesbelow theirmaximumefficiencyLandall the renewableand nonrenewablenatural resourcesused in theproductionprocessEntrepreneurshipthe act of startinga business bybringing togetherall the otherfactors ofproductionlaborlabor the physicaland mental effortscontributed byhumans in theproductionprocessFree!efficiencyusing limitedresources tomaximizeproduction ofgoods andservicesPhysicalCapitalall the thingsrequired bybusinesses toproduce goodsand services fromraw materialsfactor ofproductiona resourceused toproducegoods andservicesgunsversusbuttera simple PPCdepicting all thepossiblecombinations ofdefense goods andconsumer goodsproduced in aneconomyproductionpossibilitiescurve(PPC)a graph showingthe total possibleamount of goodsand services thatcan be producedwith limitedavailable resourcesHumanCapitalthe skills,knowledge, andexperiencepossessed bypeople that addsvalue to their jobsCapitalthe buildings,equipment, andhuman skillsused toproduce goodsand servicesengineersThis resourcefalls underthe laborfactor ofproductiontrucks &airplanesThis resourcefalls underthe capitalfactor ofproductionunattainablepointany combination ofpossible outputs thatlies outside the PPCcurve; the point atwhich there are notenough resources toproduceoilThis resourcefalls underthe landfactor ofproductionunderutilizationusingresourcesbelow theirmaximumefficiency

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