Unit 1 Out of the Box Puzzle Worksheet

Using fewer resources than the economy is capable of using
The resources that are used to make all goods and services
All the alternatives that are given up when choosing one course of action over another
Occurs when producers can/will not offer goods or services at the current prices
The knowledge and skills a worker gains through education and experience
The hope of reward or fear of punishment that encourages certain behavior
The idea that the government shouldn't intervene in the marketplace
The force that encourages individuals/organizations to improve their material well-being
The study of economic behavior and decision making of small units (like families, individuals)
Sold to individuals
A situation where the market (on its own) doesn't distribute resources efficiently
Direct payments of money to poor, disabled, and retired people
System that relies on habit, custom, and ritual to decide what and how to produce goods/services
Implies limited quantities of resources to meet unlimited wants
Goods or services provided for free or at greatly reduced prices
The additional income from selling one more unit of a good