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Uts Module 8

This document discusses how an individual's material/economic self is influenced by their possessions and lifestyle choices. It outlines two learning outcomes related to understanding the factors that contribute to one's material self and distinguishing between needs and wants. The main points made in the document are: 1) People use material possessions to signify and project aspects of their identity and personality. Their economic decisions around purchasing goods are influenced by financial constraints as well as social factors. 2) Needs are basic requirements for survival like food and shelter, while wants are luxuries. However, the line between needs and wants can be blurred depending on social perceptions. 3) Possessions convey information about a person's social status, values, and sense

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Dela Rama Virgilio Stephen
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96 views3 pages

Uts Module 8

This document discusses how an individual's material/economic self is influenced by their possessions and lifestyle choices. It outlines two learning outcomes related to understanding the factors that contribute to one's material self and distinguishing between needs and wants. The main points made in the document are: 1) People use material possessions to signify and project aspects of their identity and personality. Their economic decisions around purchasing goods are influenced by financial constraints as well as social factors. 2) Needs are basic requirements for survival like food and shelter, while wants are luxuries. However, the line between needs and wants can be blurred depending on social perceptions. 3) Possessions convey information about a person's social status, values, and sense

Uploaded by

Dela Rama Virgilio Stephen
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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GENERAL EDUCATION 1- UNDERSTANDING THE SELF DARRELL P.

LOMEDA,
Instructor

MODULE 8- THE MATERIAL/ECONOMIC SELF

Intended learning outcomes

At the end of this section, you are expected to:


1. Determine the different factors that contribute to one’s material/economic self.
2. Distinguish between needs and wants and how the influence one’s daily social behavior.

This section focuses on how people maintain extensions of themselves through material possessions
and maintenance of particular lifestyles. In the context of what society values as need and wants, this
section discusses how an individual acquires goods, the factors that shape his or her economic
decisions, and what these things say about one’s sense of self.

The Self in the Material World


People are likely to purchase products that can relate to their personality. Material possessions signify some aspect of
one’s sense of self and identity. For example, most millennials have laptops and cellphones and are familiar with
different technological innovations because of their inclination to be immersed in the digital which follows the idea why
they are known as digital natives. Parents buy necessities for their family because it is symbolic of their need to provide
“security”. One’s sense of self and identity is influential on how an individual chooses to purchase his or her wants and
how he or she makes economic decisions that will address his or her personal and social needs.
Possession, purchase of items and certain services is dependent on a number of factors, including financial constraint,
availability of items and services and the influence of family and friends. However, the most important factor is
determining whether these things and services fall under “wants” or “needs”.
Needs are those important for survival. food, clothing and shelter are basic needs so people purchase them out of
necessity. Wants are synonymous to luxuries. People buy them for reasons that do not warrant necessity. Buying
cellphones and other gadgets for communication can be perceived as necessity but purchasing units on the high-end line
can be a way of projecting a particular social status or taste. People sometimes purchase items to build how the want to
be perceived by others. Material possession tell something of the personality and social values of those who own them.
Possession are extended version of oneself.
In the process of acquiring material goods, people generally consider two things: utility and significance. Utility is
concerned with how things serve a practical purpose. On the other hand, significance is concerned with the meaning
assigned to the object. Significance, in contrast to utility, has more to do with expression and meaning.
The possession of material things also indicates one’s status in the society. People can tell whether the owner is part of
the wealthy family or in the middle class. One’s possessions are perceived as a personal choice that define people to
certain extent. These personal choices build one’s material and economic self which is an extension of his or her social
identity.

●
GENERAL EDUCATION 1- UNDERSTANDING THE SELF

MODULE 8- THE MATERIAL/ECONOMIC SELF

Name:

Section:

EXERCISE 1
Instruction: if you think the statement is correct, write agree, otherwise, write

1. Material possessions provide clues to one’s sense of material/economic self.


2. People attach meanings to their possession.

3. Needs and wants are differ


4. Possession of products highlights social class.

5. Material possessions reflect one’s values.

EXERCISE 2
Instructions: using the table below, list down ten important things that you buy for yourself (Note: Do not
include those you buy for others). Identify whether these things are needs or wants. On our list, remove
five (5) that you think you can live without. Then, remove another three (3). From the two things left,
choose one. Give a brief explanation who you have chosen it to be your ultimate need.

1st List Needs/Wants 2nd List 3rd List My Ultimate Need

(List 10 needs or (remove 5 from 1st (remove 3 from (remove 3 from the
wants that you buy List) second list) 3rd List and leave only
for yourself) one)

1.

2.

3.

4.

5.

6.

7.
8.

9.

10.

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