Somewhere between $0 and $1,000,000,000,000. Really, you can’t ask “how much does it cost to make a game” and expect any other answer, aside from the first one you got–namely, “it depends”. Describe a specific game in specific detail and you can get a real estimate.
Cost to make a game varies based on the number of specific features to be implemented, and how easily your game dev team can use your chosen tool to implement them. There is no other explanation or a general figure that can be thrown around. It can vary greatly.
As for making up for talent in an area of incompetence, I suggest practice and research will be your best way to overcome it or design around it. Otherwise you must find others who can do what you cannot. For example, if you are not good at art, make a game that doesn’t need pretty visuals. If you are good at art but bad at story writing make the game look great and play well. If you can write a good story but are bad at art, find an art style that is visually pleasing and nothing more and focus on telling your story. I would say try to capitalize on areas of expertise and try to hide any incompetence with a solid game design that works to achieve this.
How about checking out some of the articles on game design from www.gamedev.net and www.gamasutra.com They have a vast amount of resources to let you know how in-depth and variable game creation is.
It also depends on whether people are working on it for fun with the hope of making some profits later or if you have to pay them. Expect to pay $20+ an hour for each team member if you are paying them.
If your making a game with people that don’t mind not being paid and it’s just a hobby or something, you might be able to make your game for nothing. Unity Free, Blender, Gimp and some sound effects are all you need.
Before you pay anyone, make sure you have a plan and proper design doc with specifications for the game. So you know what you need to get up and running. Expect to have to spend 1 - 4 months even on a fairly simple game if your looking to have it polished and ready for public consumption.
Media (models, textures, animations, UI, skyboxes environments, audio, music)
Programming, even if you use some of the 3rd party tools that are meant to help you do various things like UI design, terrain design, AI, etc.
Asset integration and setup, level design, etc.
Each of those areas will have a price tag based on overall quality, the complexity of the functionality, and the volume of the content. Scoping out the functionality and gameplay before you hire people or start development is absolutely essential. Starting small so it’s a doable project for your first time out is also a good idea.
So taking into account for all of the assets, coding, and man power:
A basket catch game with 8 simple asset models, 3 sounds assets, simple coding for movement, scoring, and catching, with a title screen, game over screen, and with the game level would be about $400. While a platforming 2.5D game with 10 levels, 30 art assets, 10 sound assets, with platforming AI enemies would be around $5000?
If you find developers in a 3rd world country perhaps where you can assume unreasonable hourly rates, otherwise its rather likely that the answer is no. At $400 you barely get the code for a polished game (independent of the game as any game has multiple scenes, menu, ui, …)
I’m curious, how did you arrive at $400 for that?
Is this based on an hourly rate? The average game developer should be making around $40 an hour, (based entirely on industry pay, if they were working 40 hour weeks, which no one does). I’ve charged $90 an hour and the client was very happy with it.
But even at $20 an hour…
How long does a ‘simple asset model’ take to make?
How long do decent sound assets take?
What kind of ‘movement’?
What kind of scoring? Is it saved somewhere when you quit?
What kind of title screen? Is it text, or art? How long does the art take to make?
For the game over screen, are you talking about a sign that pops up and says ‘game over’, or an actual screen? Does it have graphics?
Can you restart where you left off? Or do you start completely over when you screw up?
When you say a game level, what do you mean? Does it have art? Does it look good?
Is there an opponent, or is this just a thing where you throw something at a basket?
Are there physics involved?
Is there music?
You’re assuming all of this can be done acceptably in 20 hours. I think it could be, but I’d be really surprised if I liked the outcome. There’s a fine line between good and great, and that line is usually many, many hours long