The problem of making choices regarding what to produce
and in what quantities can be illustrated with a
possibilities curve.
Goods that bring us immediate satisfaction, like food, mag-
azines, and CDs are called \textit{consumer} goods. Goods like
machines, that give little immediate pleasure but that help
increase output of goods and services in the future, are
called ______ goods.
When a production possibilities curve is bowed outward
from the origin it is because of the law of ______ cost.