FRM- exam 1| Questions with Complete Solutions 100% Verified| Latest Update Graded A+
What are the categorization of needs? -Economic needs
-Physiological needs
-Psychological needs
-Social needs
Some things necessary for families to exist require an exchange of payment
Resources needed:
Money to exchange for basic and higher-level needs and wants
Income
-Employment
-Inheritance
- Public assistance Economic needs
As in Maslow's hierarchy, there are basic life sustaining needs of all family members
While money may be the primary exchange for obtaining food, water, and shelter, the
management of these things is a human resource
-Nutrition
-Health care
- Hygiene Physiological needs
Coping skills and planning skills are essential to both the physical health and mental well-being
of family members Psychological needs
-An individual's membership in a family is the first and most influential affiliation experienced
-Families and instrumental in ones development of self-worth
,-Social skills modeled and taught within family units impact ones ability to function in larger
social groups Social needs
Circumstances. - Unique situations faced by families over time impact need identification
Personality. - Individual desires, motivations, and behaviors are expressed differently by family
members, even in very similar situations
Economic status- Individual and family economic status is fluid in the U.S. Income can rise and
fall over time. The abundance or security of money have beeb known to alter family
consumption patterns
Technology- Evolving technology increases available info. and resource identification. Access to
technology opens many doors, but also alters the individual's perception of what is necessary to
participation in the technological revolution.
Culture- Although a very slow changing entity, shifts in demographics, religious and political
thought do impact the culture that families draw from and contribute to. Cultural norms are
passed from generation to generation. Any changes within a generat Changing perceptions
of needs
What things change what we think of a need vs. a want?
A measurement of exchange (at that price, this item is a real value)
or
Guiding principles of thought and behavior (fairness and equity are values we hold dearly
What is a value?
Assumed to be important principles across nations and ethnicities but difficult to agree upon
Universal values
, A group's formal or informal set of beliefs about what is appropriate Cultural values
Values framed in terms of what is right and wrong are often referred to as morals.
Kohlberg theorized that human morals evolve as they mature.
-Sense of justice
- Not all humans are expected to move to highest level
-Multigenerational families will have members operating at different levels
-Morals held strongly enough may become law Personal values
The probability that family member's values will clash upon occasion is quite high.
Research does support similar value orientations of individuals within a family
Homogamy is a visible expression of family value sets.
-Racial
- Socio-economic
- Educational
- Religious
Know homogamy! Family values
Learned predispositions to respond in a consistently favorable or unfavorable manner to any
given object
What are the categorization of needs? -Economic needs
-Physiological needs
-Psychological needs
-Social needs
Some things necessary for families to exist require an exchange of payment
Resources needed:
Money to exchange for basic and higher-level needs and wants
Income
-Employment
-Inheritance
- Public assistance Economic needs
As in Maslow's hierarchy, there are basic life sustaining needs of all family members
While money may be the primary exchange for obtaining food, water, and shelter, the
management of these things is a human resource
-Nutrition
-Health care
- Hygiene Physiological needs
Coping skills and planning skills are essential to both the physical health and mental well-being
of family members Psychological needs
-An individual's membership in a family is the first and most influential affiliation experienced
-Families and instrumental in ones development of self-worth
,-Social skills modeled and taught within family units impact ones ability to function in larger
social groups Social needs
Circumstances. - Unique situations faced by families over time impact need identification
Personality. - Individual desires, motivations, and behaviors are expressed differently by family
members, even in very similar situations
Economic status- Individual and family economic status is fluid in the U.S. Income can rise and
fall over time. The abundance or security of money have beeb known to alter family
consumption patterns
Technology- Evolving technology increases available info. and resource identification. Access to
technology opens many doors, but also alters the individual's perception of what is necessary to
participation in the technological revolution.
Culture- Although a very slow changing entity, shifts in demographics, religious and political
thought do impact the culture that families draw from and contribute to. Cultural norms are
passed from generation to generation. Any changes within a generat Changing perceptions
of needs
What things change what we think of a need vs. a want?
A measurement of exchange (at that price, this item is a real value)
or
Guiding principles of thought and behavior (fairness and equity are values we hold dearly
What is a value?
Assumed to be important principles across nations and ethnicities but difficult to agree upon
Universal values
, A group's formal or informal set of beliefs about what is appropriate Cultural values
Values framed in terms of what is right and wrong are often referred to as morals.
Kohlberg theorized that human morals evolve as they mature.
-Sense of justice
- Not all humans are expected to move to highest level
-Multigenerational families will have members operating at different levels
-Morals held strongly enough may become law Personal values
The probability that family member's values will clash upon occasion is quite high.
Research does support similar value orientations of individuals within a family
Homogamy is a visible expression of family value sets.
-Racial
- Socio-economic
- Educational
- Religious
Know homogamy! Family values
Learned predispositions to respond in a consistently favorable or unfavorable manner to any
given object
