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