There's no greater joy, no greater privilege than knowing you're God's own possession because He chose you by sovereign election and paid the price for you through the sacrifice of His Son Jesus Christ!
Because of your union with Christ, you're a member of the priesthood of all believers. You have the honor of offering sacrifices of gratitude to God for the redemptive work of Christ. And you're to express your gratitude with your lips, your labor and your life.
The theme of 1 Peter 2:4-10 is spiritual privileges. And John MacArthur's study of this beloved passage titled The Believer's Privileges focuses on what is yours because you belong to Christ.