Making the most of your resources

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Making the best of your resources
Time for Business by Edco
Mind Map by Time for Business by Edco, updated more than 1 year ago More Less
Time for Business sample
Created by Time for Business sample over 8 years ago
Time for Business by Edco
Copied by Time for Business by Edco about 8 years ago
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Making the most of your resources
  1. What are resources?
    1. Anything we can use to meet our needs or wants
      1. Need = necessary for survival, e.g. food, clothing, shelter
        1. Want = something we'd like to have, e.g. holiday, latest games console
      2. Types of resources
        1. Physical/capital resources
          1. Used to make other resources
          2. Natural resources
            1. Provided by nature
            2. Human resources
              1. Skills, abilities, experiences
              2. Time resources
                1. Financial
                  1. Money available to households
                    1. Being money smart
                      1. Costs
                        1. Financial costs
                          1. Opportunity costs
                          2. Making choices
                      2. Characteristics of resources
                        1. Scarce
                          1. Useful
                            1. Valuable
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