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