Professional Documents
Culture Documents
ECONOMIC SELF
CHRISHA DAINE RED
JOSH MICHAEL ESTOYA
STTEVEN MALUNES
LEARNING OUTCOMES
At the end of this lesson, you should be able
to:
1. explain the association of self and
possessions.
2. identify the role of consumer culture to self
and identity.
3. differentiate between needs and wants.
4. appraise one’s self based on the description
of material self.
ACTIVITY: DEBIT
CARD CHALLENGE
A very wealthy relative of yours gave
you a debit card worth one (1) million
pesos. What are you going to do with
such a huge amount of money?
ANALYSIS
1 How do you feel as you do the Debit Card
Challenge?
It smashes the happiness and peace of mind of those who succumb to it. It
is associated with anxiety. There has long been a correlation between
materialism, a lack of empathy and engagement with others, and
unhappiness.
MATERIALISM
We are what we have and what we possess. A man’s
self becomes the sum total of all that he has, these
possessions become part of an extension of the self.
N T S
WA
DS
NEE
NEEDS
VERSUS
WANTS
N T S
WA
E D S
NE
NEEDS
VS WA N T S
WANTS N EE D S
NEEDS
Needs are those important for survival. Food,
clothing, and shelter are basic needs so people
purchase them out of necessity.
WANTS
Wants, however, are synonymous with luxuries.
People buy them for reasons that do not warrant
necessity.
As a consumer, one should know what to prioritize that would
benefit him or her in the long run. One should also allocate part
of his or her earnings for savings so that when important
reasons to expend comes in the future, one is ready. In spending
money, one should avoid being impulsive and instead be
practical and prudent. One should take note that every person
has free will whether to buy or not. Conscious consumption is
about practicing responsible buying habits.
In the process of acquiring material goods, people
generally consider two things:
SIGNIFICANCE
is concerned with the meaning assigned to the object.
The possession of material things also indicates one’s status
in the society. People can tell whether the owner is part of a
wealthy family or in the middle class. One’s possessions
are perceived as personal choices that define people to a
certain extent. These personal choices build one’s material
and economic self which is an extension of his or her social
identity.