Background of the Study
The basis of our study is the subjective well-being approach for our undergraduate thesis writing which shows that there is a weak relationship between subjective well-being and indicators of well-being such as income and consumption.
There were three reasons for the existence of a weak relationship between subjective well-being and indicators of well-being such as income and consumption, first, a person is much more than a consumer; second, the role of heterogeneity in human perceptions; and third, the existence of heterogeneity in purposes of life. The understanding of poverty would be better served by a concept of human well-being which incorporates subjective well-being indicators and which is based on the wholeness and complexity of human beings. It is reasonable to accept that a poor person is one whose well-being is low; poverty depends on the specific concept of human well-being.
Subjective well-being refers to the well-being as declared by a person. It is based on a person’s answer to either a single question or a group of questions about his/her well-being. It is a measure of a person’s well-being that incorporates all life events, aspirations, achievements, failures, emotions and relations of human beings, as well as their neighboring cultural and moral environment (Kahneman et al. 1998; Argyle 2001).
In this paper we consider the relationship between “subjective wellbeing poverty” and poverty itself. This paper attempts to discuss facts about subjective poverty and give the readers valuable information about subjective poverty and its contingent financing of the selected household in the locale of our study which is the randomly selected 152 households of Miniforest Brgy. 22-C, Davao City. With...
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Definition of Terms
The following term is defined as used in the study
Subjective Poverty- is the perception whether the individuals judge themselves whether they are poor or very poor.
Poverty- is a condition in which the basic needs of people such foods, shelter, clothes are not being met.
Informal Settlers-are groups of people living on land, with no legal claims with their property or the homes and land don't follow codes and regulations.
Perception- the way you think about or understand someone or something.
Subjective well-being (SWB)-refers to how people experience the quality of their lives and includes both emotional reactions and cognitive judgments.
Contingent Financing- There’s an offer on the property that’s contingent on buyer financing and the seller retains the “right to continue to market” and accept other offers.