Matching Pairs Resources and Choices Online version Using 4-1 Resources and Choices section of the text book match the key words to the correct definitions. by Jeni Garcia 1 Needs 2 Assets 3 Liabilities 4 Cash outflows 5 Trade off 6 Cash inflows 7 Opportunity cost 8 Net worth 9 Wants 10 Financial resources Expenses or other items for which you must spend money. Debts that you owe The difference between your assets and liabilities Income from your job, investments and other sources Money and other items of value that are used to acquire goods and services The value of your next best option - what you are giving up. Giving up one item for another Things people desire for reasons beyond basic comfort and survival Money and items of value that you own. Things needed for survival, such as food, clothing, water, shelter and medical care