1. Scope and Sequence
1. Needs and Wants a. Difference of needs and wants b. Hierarchy of needs c. Sectors that influence needs and wants 2. Consumption a. Concept of Consumption b. Sectors/ Factors of Consumption c. Wise Consumerism d. Rights and Responsibilities of Consumers

2. 3. Production
a. Definition of Demand
b. Factors that affect Demand
c. Elasticity of demand

3. What is the basis of the “market” in producing goods?

4. Needs and Wants

5. Learning Targets a. I CAN differentiate needs from wants
b. I CAN explain the hierarchy of
needs
c. I CAN identify the sectors that
influence needs and wants

6. Needs Needs would be defined as goods or services that are required.
This would include the needs for food, clothing, shelter, health care.

7. Wants
Wants are goods or services that are not necessary for survival yet we desire or wish to own or take advantage of them.
For example, a people need clothes but may not need designer clothes.
People do not need toys, entertainment, or cars.
People need food but do not have to have steak or dessert.

8. I. TWO GENERAL CATEGORIES OF WANTS
A. NON-ECONOMIC WANTS – WANTS THAT CAN BE SATISFIED BY NON-ECONOMIC GOODS (FREE GOODS) – ARE GOODS THAT ARE UNLIMITED IN QUANTITIES AND HAVE NO PRICE TAGS.   B. ECONOMIC WANTS – WANTS THAT CAN BE SATISFIED BY ECONOMIC GOODS. ECONOMIC GOODS ARE THOSE GOODS AND SERVICES WHICH EXIST IN LIMITED QUANTITIES AND CAN ONLY BE ACQUIRED AT SOME EFFORT AND COST.  

9. Humanistic-Existential Paradigm Self-actualization Theory
Abraham Maslow ( )
Humanistic-Existential Paradigm
Self-actualization Theory

10. Maslow’s Assumptions Human nature is basically good, not evil
Normal human development involves the actualization of this inherent goodness

11. Maslow’s Hierarchy of Needs
The basis of Maslow's theory is that human beings are motivated by unsatisfied needs.
Certain lower needs must be satisfied before higher needs can be satisfied.
As long as we are motivated to satisfy these cravings, we are moving towards growth, toward self-actualization.

12. MOST NEEDS HAVE TO DO WITH SURVIVAL PHYSICALLY AND
Maslow’s Hierarchy of Needs
MOST NEEDS HAVE TO DO WITH
SURVIVAL PHYSICALLY AND
PSYCHOLOGICALLY
PHYSIOLOGICAL OR SURVIVAL NEEDS 5

13. ON THE WHOLE AN INDIVIDUAL CANNOT SATISFY ANY LEVEL
Maslow’s Hierarchy of Needs
ON THE WHOLE AN INDIVIDUAL
CANNOT SATISFY ANY LEVEL
UNLESS NEEDS BELOW ARE
SATISFIED
SAFETY NEEDS
PHYSIOLOGICAL OR SURVIVAL NEEDS

14. Maslow’s Hierarchy of Needs
LOVE, AFFECTION, AND
BELONGINGNESS NEEDS
SAFETY NEEDS
PHYSIOLOGICAL OR SURVIVAL NEEDS 7

15. Maslow’s Hierarchy of Needs
ESTEEM NEEDS
LOVE, AFFECTION, AND
BELONGINGNESS NEEDS
SAFETY NEEDS
PHYSIOLOGICAL OR SURVIVAL NEEDS 8

16. MASLOW EMPHASIZES NEED FOR SELF A HEALTHY INDIVIDUAL’S PRIME
Maslow’s Hierarchy of Needs
NEED
FOR
SELF-
ACTUALIZATION
MASLOW EMPHASIZES NEED FOR SELF
ACTUALIZATION IS
A HEALTHY INDIVIDUAL’S PRIME
MOTIVATION 9

17. Maslow’s Hierarchy of Needs
FOR
SELF-
ACTUALIZATION
MASLOW EMPHASIZES NEED FOR SELF
ACTUALIZATION IS
A HEALTHY INDIVIDUAL’S PRIME
MOTIVATION
SELF-ACTUALIZATION MEANS ACTUALIZING
ONE’S POTENTIAL BECOMING ALL ONE IS
CAPABLE OF BECOMING 10

18. Maslow’s Hierarchy of Needs
FOR
SELF-
ACTUALIZATION
ESTEEM NEEDS
LOVE, AFFECTION, AND
BELONGINGNESS NEEDS
SAFETY NEEDS
PHYSIOLOGICAL OR SURVIVAL NEEDS 11

19. Physiological Needs
Physiological needs are those required to sustain life, such as:
Air
Water
Food
Sleep

20. Physiological Needs
According to Maslow's theory, if these fundamental needs are not satisfied then one will surely be motivated to satisfy them.
Higher needs such as social needs and esteem are not recognized until one satisfies the needs basic to existence.

21. Safety Needs
Once physiological needs are met, one's attention turns to safety and security in order to be free from the threat of physical and emotional harm.
Such needs might be fulfilled by:
Living in a safe area
Medical insurance
Job security
Financial reserves
If a person feels threatened, needs further up the pyramid will not receive attention until that need has been resolved.

22. Social Needs
Once a person has met the lower level physiological and safety needs, higher level needs awaken.
The first level of higher level needs are social needs.
Social needs are those related to interaction with others and may include:
Friendship
Belonging to a group
Giving and receiving love

23. Esteem Needs
Once a person feels a sense of "belonging", the need to feel important arises.
Esteem needs may be classified as internal or external.
Internal esteem needs are those related to self-esteem such as self respect and achievement.

24. Esteem Needs
External esteem needs are those such as social status and recognition.
Some esteem needs are:
Self-respect
Achievement
Attention
Recognition
Reputation

25. the need for knowledge and aesthetics
Esteem Needs
Maslow later refined his model to include a level between esteem needs and self-actualization:
the need for knowledge and aesthetics

26. Self-Actualization
Self-actualization is the summit of Maslow's hierarchy of needs.
It is the quest of reaching one's full potential as a person.
Unlike lower level needs, this need is never fully satisfied; as one grows psychologically there are always new opportunities to continue to grow.

27. Self-Actualization Self-actualized people tend to have needs such as:
Truth
Justice
Wisdom
Meaning

28. Self-Actualization
Self-actualized persons have frequent occurrences of peak experiences, which are energized moments of profound happiness and harmony.
According to Maslow, only a small percentage of the population reaches the level of self-actualization.

29. Journal # 2.1
Using Maslow’s Hierarchy of Needs, create your own hierarchy and list down what or how these needs are created.
Rubrics:
Content – 10
Creativity – 5