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