Material and Economic Self Quiz

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Questions and Answers

Which of the following is NOT a component of the material self as defined by William James?

  • Reputation and work
  • Clothes
  • Dreams (correct)
  • House

What is meant by the statement 'we are what we have' in relation to the material self?

  • Our possessions have no impact on our identity.
  • Our identity is shaped solely by our possessions.
  • Possessions contribute to our self-identity by holding meaning. (correct)
  • Only monetary wealth defines our material self.

In the context of material possessions, what distinguishes needs from wants?

  • Wants are more critical than needs in personal development.
  • Needs are optional, whereas wants are mandatory.
  • Needs are essential for survival, while wants are additional luxuries. (correct)
  • Both needs and wants serve identical purposes.

Which of the following statements best describes economic self-sufficiency?

<p>The capacity to maintain income to meet needs consistently. (C)</p> Signup and view all the answers

How does consumerism differ from materialism?

<p>Consumerism focuses on society as a whole, while materialism is individual-centric. (C)</p> Signup and view all the answers

Which of the following is a suggested way to become wise in spending money?

<p>Exercise intellectual independence. (B)</p> Signup and view all the answers

What is a significant effect of material possessions in a person's life?

<p>They can serve as status symbols and carry deep meanings. (C)</p> Signup and view all the answers

Which of these best reflects the phrase 'I shop therefore I am'?

<p>Purchasing goods is a reflection of self-worth. (D)</p> Signup and view all the answers

Which of the following best describes the economic self?

<p>The process of purchasing goods and availing services (B)</p> Signup and view all the answers

Materialism and consumerism refer to the same concept.

<p>False (B)</p> Signup and view all the answers

What is the primary role of family in relation to self-identity?

<p>Family shapes and influences the development of self-identity.</p> Signup and view all the answers

____ and bank accounts are part of our material self, according to William James.

<p>Land</p> Signup and view all the answers

Match the following components of the material self with their descriptions:

<p>Body = Innermost part of the material self Clothes = Form of self-expression Home = Earliest nest of our selfhood Family = Influences self-identity development</p> Signup and view all the answers

Which of the following best describes needs?

<p>Basic requirements for survival (D)</p> Signup and view all the answers

The statement 'Consume less, live more' suggests a way to become wiser in spending money.

<p>True (A)</p> Signup and view all the answers

How does utility differ from significance in relation to material possessions?

<p>Utility refers to practical purpose while significance relates to the meaning assigned to an object.</p> Signup and view all the answers

Flashcards

Material Self

The sum total of all things 'my' or 'mine', encompassing tangible objects, people, and places, according to William James.

Material Self Components

The 'material self' includes: body, clothes, family, home, and possessions.

Needs vs. Wants

Needs are essential for survival, while wants are desires beyond basic necessities.

Utility vs. Significance

Utility focuses on practical use, while significance involves the meaning attached to an object.

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Economic Self

The aspect of the self that interacts with the consumerism process, engaging in purchasing and using goods and services.

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Economic Self-Sufficiency

The ability to consistently meet basic needs through income.

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Materialism

A philosophical belief focusing on matter as the fundamental substance in nature.

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Consumerism

A societal belief that increasing consumption of goods is economically beneficial.

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What are the components of the Material Self?

The Material Self, according to William James, includes the physical body, possessions like clothes and a home, loved ones, and even reputation and achievements.

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What is the difference between Needs and Wants?

Needs are things essential for survival, like food and shelter, while Wants are desires beyond basic needs, like luxury items or entertainment.

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What is Utility?

Utility refers to how useful something is, its practical purpose.

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What is Significance?

Significance relates to the meaning we attach to an object, going beyond its practical use.

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What is the Economic Self?

The Economic Self is the part of you that participates in consumerism, buying goods and services.

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What is Economic Self-Sufficiency?

Economic Self-Sufficiency means having enough income to consistently meet your basic needs.

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What is Materialism?

Materialism is a belief that everything in the world, including thoughts and feelings, is ultimately made of physical matter.

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What is Consumerism?

Consumerism is a societal belief that increasing consumption of goods is good for the economy.

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Study Notes

Material and Economic Self

  • Material self is defined as the sum total of everything a person considers their own, including body, psychic powers, possessions, and relationships.
  • This includes tangible items, people, or places that belong to a person.
  • Examples of possessions that constitute a person's material self: clothes, house, wife, children, friends, ancestors, reputation, work, land, and bank accounts.

Composition of the Material Self

  • Innermost comprises the body; we are inextricably bound to our bodies.
  • Clothing is a significant aspect of self-expression.
  • Family influence shapes identity development.
  • Home is the earliest environment forming selfhood.

Needs vs. Wants

  • Needs are essential requirements for survival.
  • Wants are desires beyond basic needs.
  • Utility is the practical purpose of something, while significance is its meaning.
  • Possessions can fulfill roles as status symbols.

Economic Self

  • Consumerism is the process of purchasing goods and services.
  • Economic self-sufficiency is the ability for individuals and families to maintain income sufficient for their needs.
  • Materialism is the belief that matter is fundamental, including consciousness.
  • Consumerism suggests that increasing consumption is beneficial.

Ways to Wisely Spend Money

  • Exercise intellectual independence.
  • Consume less, live more.
  • Improve financial management.

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