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Topic 3 Vocabulary

Making Decisions

TermDefinition
Needs The basic items you must have to live.
Wants The extra items you would like, but can live without.
Human Resources What people have within themselves to get what they need or want.
Nonhuman Resources Objects and conditions available to people to help them meet needs and fulfill wants.
Private Resources A resource owned and controlled by a person or a family group.
Public Resources A resource shared by everyone and paid for through taxes.
Values Strong beliefs or ideas about what is important.
Goals What you want to achieve.
Priorities Rank in order of importance. More important before less important.
Decision-making Process Steps followed to help make a decision, solve a problem, or reach a goal.
Trade-off The giving up of one thing for another.
Standards A means of measuring how well goals are achieved.
Created by: Rasher
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