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Making the most of your resources

Description

Making the best of your resources

Mind Map by Siobhan O'Sullivan, updated more than 1 year ago More Less

	Created by Time for Business sample almost 8 years ago

	Copied by Time for Business by Edco over 7 years ago

	Copied by Siobhan O'Sullivan over 4 years ago

Resource summary

Making the most of your resources

What are resources?
1. Anything we can use to meet our needs or wants
  1. Need = necessary for survival
    1. Food
    2. Shelter
    3. Clothing
  2. Want = something we'd like to have
Types of resources
1. Physical/capital resources
  1. Used to make other resources
2. Natural resources
  1. Provided by nature
3. Human resources
  1. Skills, abilities, experiences
4. Time resources
5. Financial
  1. Money available to households
    1. Being money smart
    2. Costs
      1. Financial costs
      2. Opportunity costs
    3. Making choices
Characteristics of resources
1. Scarce
2. Useful
3. Valuable

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