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