gunsversusbuttera simple PPCdepicting all thepossiblecombinations ofdefense goods andconsumer goodsproduced in aneconomyHumanCapitalthe skills,knowledge, andexperiencepossessed bypeople that addsvalue to their jobsefficiencyusing limitedresources tomaximizeproduction ofgoods andservicesoilThis resourcefalls underthe landfactor ofproductionproductionpossibilitiescurve(PPC)a graph showingthe total possibleamount of goodsand services thatcan be producedwith limitedavailable resourcesCapitalthe buildings,equipment, andhuman skillsused toproduce goodsand servicesfactor ofproductiona resourceused toproducegoods andserviceslaborlabor the physicaland mental effortscontributed byhumans in theproductionprocessunattainablepointany combination ofpossible outputs thatlies outside the PPCcurve; the point atwhich there are notenough resources toproduceengineersThis resourcefalls underthe laborfactor ofproductionEntrepreneurshipthe act of startinga business bybringing togetherall the otherfactors ofproductiontrucks &airplanesThis resourcefalls underthe capitalfactor ofproductionPhysicalCapitalall the thingsrequired bybusinesses toproduce goodsand services fromraw materialsunderutilizationusingresourcesbelow theirmaximumefficiencyLandall the renewableand nonrenewablenatural resourcesused in theproductionprocessFree!gunsversusbuttera simple PPCdepicting all thepossiblecombinations ofdefense goods andconsumer goodsproduced in aneconomyHumanCapitalthe skills,knowledge, andexperiencepossessed bypeople that addsvalue to their jobsefficiencyusing limitedresources tomaximizeproduction ofgoods andservicesoilThis resourcefalls underthe landfactor ofproductionproductionpossibilitiescurve(PPC)a graph showingthe total possibleamount of goodsand services thatcan be producedwith limitedavailable resourcesCapitalthe buildings,equipment, andhuman skillsused toproduce goodsand servicesfactor ofproductiona resourceused toproducegoods andserviceslaborlabor the physicaland mental effortscontributed byhumans in theproductionprocessunattainablepointany combination ofpossible outputs thatlies outside the PPCcurve; the point atwhich there are notenough resources toproduceengineersThis resourcefalls underthe laborfactor ofproductionEntrepreneurshipthe act of startinga business bybringing togetherall the otherfactors ofproductiontrucks &airplanesThis resourcefalls underthe capitalfactor ofproductionPhysicalCapitalall the thingsrequired bybusinesses toproduce goodsand services fromraw materialsunderutilizationusingresourcesbelow theirmaximumefficiencyLandall the renewableand nonrenewablenatural resourcesused 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
G G
2
B B
3
I I
4
I I
5
G G
6
N N
7
G G
8
G G
9
N N
10
N N
11
I I
12
N N
13
I I
14
B B
15
B B
16
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. B-the skills, knowledge, and experience possessed by people that adds value to their jobs
    B-Human Capital
  3. I-using limited resources to maximize production of goods and services
    I-efficiency
  4. I-This resource falls under the land factor of production
    I-oil
  5. 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)
  6. N-the buildings, equipment, and human skills used to produce goods and services
    N-Capital
  7. G-a resource used to produce goods and services
    G-factor of production
  8. G-labor the physical and mental efforts contributed by humans in the production process
    G-labor
  9. 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
  10. N-This resource falls under the labor factor of production
    N-engineers
  11. I-the act of starting a business by bringing together all the other factors of production
    I-Entrepreneurship
  12. N-This resource falls under the capital factor of production
    N-trucks & airplanes
  13. I-all the things required by businesses to produce goods and services from raw materials
    I-Physical Capital
  14. B-using resources below their maximum efficiency
    B-underutilization
  15. B-all the renewable and nonrenewable natural resources used in the production process
    B-Land
  16. B-Free!