Managing resources


Making the best of your resources
Time for Business sample
Mind Map by Time for Business sample, updated more than 1 year ago
Time for Business sample
Created by Time for Business sample about 8 years ago

Resource summary

Managing resources
  1. Anything we can use to meet our needs
    1. Needs vs wants
      1. Need = necessary for survival
        1. Want = something we'd like to have
      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. Resources are:
                        1. Scarce
                          1. Useful
                            1. Valuable
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