Answered

Match each word with its best definition.
budget
income
risk
opportunity cost
personal finances
t
a plan that balances available resources
and expenses
the cost of using one resource over
another
the chance or possibility of loss
an individual's assets and management
of them
money earned



Answer :

Match each word with its best definition: 1. **budget**: a plan that balances available resources and expenses. Example: Creating a budget helps you allocate your money wisely and plan for future expenses. 2. **income**: money earned. Example: Income includes salaries, wages, and any other money you receive, such as from investments or side jobs. 3. **risk**: the chance or possibility of loss. Example: Investing in stocks comes with a risk of losing money if the market fluctuates. 4. **opportunity cost**: the cost of using one resource over another. Example: Choosing to go to a concert instead of working means the opportunity cost is the wages you could have earned. 5. **personal finances**: an individual's assets and management of them. Example: Managing personal finances involves budgeting, saving, investing, and planning for future financial goals. These definitions will help you understand each term in the context of financial management and decision-making.