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