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