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