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