Making the most of your resources

Making the most of your resources

1. What are resources?

   • Anything we can use to meet our needs or wants
     • Need = necessary for survival, e.g. food, clothing, shelter
     • Want = something we'd like to have, e.g. holiday, latest games console

2. Types of resources

   • Physical/capital resources
     • Used to make other resources
   • Natural resources
     • Provided by nature
   • Human resources
     • Skills, abilities, experiences
   • Time resources
   • Financial
     • Money available to households
       • Being money smart
       • Costs
         • Financial costs
         • Opportunity costs
       • Making choices

3. Characteristics of resources

   • Scarce
   • Useful
   • Valuable

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