Step 1: Understanding the Question
The question asks for the interpretation of the phrase 'In a world of possessions' from the given poetic extract.
Step 2: Analyzing the Context
The poem discusses a boy losing his ball. The ball is a 'possession'. The poet generalizes this experience to a life where people own things ('possessions'), and these things can be lost. The phrase thus refers to a world where ownership and material objects are a significant part of life.
Step 3: Detailed Explanation
'Possessions' are things that one owns. Therefore, 'a world of possessions' directly refers to a world full of ownable objects, or material things.
(A) Love is an emotion, not a possession in this context.
(B) Material things is the most accurate synonym for 'possessions'.
(C) Lust is a desire, not a tangible object.
(D) This is incorrect as (B) is a valid answer.
Step 4: Final Answer
The phrase 'In a world of possessions' signifies a materialistic world, a world of material things.