Assessment Task # 4 Chapter 9: Ethics and Economy

Name: Jay Ann A.
Rodrigo Date: April 23, 2020

Year & Section: BSICT - 3 Term: 2nd Sem., 2020-2021
Subject: Professional Ethics Prof.: Dr. Nikkithea L. Beduya
Score:
ASSESSMENT TASK # 4
Chapter 9: ETHICS AND ECONOMY
Answer the following questions concisely.
1. How do you characterize the relation between ethics and economy? What is the
primary basis of such relation?
Ethics is a way of thinking about how we should or should not behave as

humans in society and about what individuals and society owe each other while
economics is a science that studies the allocation of scarce resources. Typically
this is money and how money is used. But it can also time, effort, anything that's
scarce.
This connects economics directly to a major issue in ethics: By what
standard do we determine what counts as a benefit or a cost. A list of competing
candidates for the status of ultimate value standard includes happiness,
satisfying the will of God, long-term survival, liberty, duty, and equality.
2. Do you know any person (family member, relative, or friend) who works as a
contractual employee? Interview him or her and write briefly his or her
experience as a contractual employee.
As a contractual employee, when I started my job I was required to sign and

agree to terms of a contract before I began. When I'm doing my work I need a
specified amount of time and ends upon completion of our project or assignment.
As a contractual employee it required a specific hours to work, while the other
allow workers to set their own schedules. It also required to complete our
projects and assignments in a timely and satisfactory manner, according to
stipulations in the contract.
3. What is the alienation that Karl Marx refers to? Cite instances or situations that
illustrate your understanding of this concept.
Alienation is the term used by Karl Marx to refer to the great disconnect
between what a person does for a living and the kind of person one should be.
A worker tasked with checking computer chips before they are installed in
cars or smart phones may last a decade doing this routine, but at the end of the
day, he or she knows that his or her job does not speak at all of who he or she is.
Inside the factory, a worker feels his or her humanity.
4. What are some concrete examples of the effects of commodification that you see
around you?
Example Products. Products are commoditized when they must sell at or

near a market price. This occurs when consumers see little difference between
products such that they always buy based on price. Producers often seek to
avoid commodification by improving the perceived quality of their products to
stand out in a crowded market. In some product categories, this simply does not
work as consumers have no interest in quality above that offered by
commodities.
5. What aspects of Jessie J’s song “Price Tag” can you relate to the themes of
commodification and alienation?
“Why are we so obsessed money can’t buy us happiness”

Speeding in one’s car, using Ipods, tablets, and laptops which provide a
handy comfort entertainment, and watching movies in 3D cinemas were all fun.
But the fun was purchased at a high price namely the need to work ever longer
and harder to provide the means to buy these goods. In the end, the result
increased mental illness and environmental degradation.
Our obsession to money, to acquire more wealth in order to buy things
which are not necessary or the so called false needs is rooted in consumerism.
We are being controlled and slave by the prevailing social standard.
“Everybody looks to the left, everybody looks to the right”

“It's not about the money, money, money
We don't need your money, money, money
We just wanna make the world dance
Forget about the price tag”
The lyrics in the chorus argued that we have to develop a wider perspective
and critical thinking in dealing with the present situations. Moreover, if transcend
our obsession to money then we will be able to forget the “Price Tag” of things
and make the world dance.

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Name: Jay Ann A.

Rodrigo Date: April 23, 2020

Answer the following questions concisely.

Ethics is a way of thinking about how we should or should not behave as

As a contractual employee, when I started my job I was required to sign and

Example Products. Products are commoditized when they must sell at or

“Why are we so obsessed money can’t buy us happiness”

“Everybody looks to the left, everybody looks to the right”

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