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