Matching Pairs Economics L2 Key termsOnline version Key terms match up! by Martin Johannes Herben 1 Production Possibility Frontier 2 Efficient 3 Rational choice 4 Opportunity cost 5 Free resources 6 Consumer good 7 Capital good 8 Economic growth 9 Production possibility Curve (PPC) 10 Allocation of resources Increase in the level of output by a country Line that shows the different combinations of two goods an economy can produce if all resources are used up. Being able to produce more with fewer resources. The choice by a country or an economy to use resources in a certain way. Resources that don't have an opportunity cost because they can still be used for other things. For example, sunlight, CO2, oxygen. Good purchased by a household such as food, a car, furniture, etc. Cost of the next best alternative given up (when making a choice) The ability to make a choice that is the best for you. Another name for the PPC. A good purchased by a company and used to produce other goods such as a machine, a tool, or a piece of equipment.
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