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SLOPE, PRODUCTION POSSIBILITIES CURVE: The numerical value of the slope of the production possibilities curve is the opportunity cost of producing the good measured on the horizontal axis.

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LAND

The naturally occurring resources used in the production of goods and services, including the land itself; the minerals and nutrients in the ground; the water, wildlife, and vegetation on the surface; and the air above. Land also includes the productive dimensions of space and accessibility. This is one of four basic categories of resources, or factors of production. The other three are labor, capital, and entrepreneurship.

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Today, you are likely to spend a great deal of time at a garage sale hoping to buy either a New York Yankees baseball cap or a solid oak entertainment center. Be on the lookout for telephone calls from long-lost relatives.
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A half gallon milk jug holds about $50 in pennies.
"Anyone who has never made a mistake has never tried anything new. "

-- Albert Einstein, physicist

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