Final answer:
According to Erik Erikson's psychosocial theory of development, individuals develop their personality by successfully resolving developmental tasks or conflicts. In late adulthood, the stage of integrity versus despair involves reflecting on one's life and experiencing feelings of satisfaction or failure.
Step-by-step explanation:
According to Erik Erikson's psychosocial theory of development, an individual's personality develops throughout the lifespan by successfully completing various developmental tasks or conflicts. These tasks are important for the development of a healthy personality and a sense of competence. One of the stages in Erikson's theory is integrity versus despair, which occurs in late adulthood. During this stage, individuals reflect on their lives and may experience feelings of satisfaction or failure.