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Resources

Time For Business - 1st Year

TermDefinition
A resource is anything we can use in order to meet our needs or help us achieve our goals
Capital Resources These are goods made by people and used to make other goods and provide services
Natural Resources A person may have access to resources provided by nature
Financial Resources Are all types and sources of money, which allows people to buy goods and services
Human Resources This refers to not only your own personal skills, abilities and experience, but all the people available to help to help you
Time Resources Is a valuable and limited resource, so it is important to use it wisely
A need is something we simply can't do without, it is essential for our survival
A want is something that we would like to have. It might make our lives easier but it is not essential
Financial cost Is the money cost or price of the items we choose to buy
Opportunity cost Is the items we must go without when we have to make a choice
Created by: Sarah C. Lynch
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