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Economics a commodity or service that satisfies a human need



in ethics and philosophy, that which includes definite positive meaning. In philosophy the question of good was posed in attempts to explain the meaning of existence and human life and was treated as the problem of the greatest good (summum bonum in Latin, a term introduced by Aristotle); this greatest good determined the relative value of all other goods. The Greek philosophers viewed the greatest good as happiness— “eudaemonia” —the exact meaning of which was defined in various ways by representatives of different schools. For example, the Cyrenaics and Epicurus defined it as pleasure, the Cynics as abstention from passion, and Aristotle and the Stoics as virtue (in the sense of the supremacy of the higher and more rational forms of nature over the lower). Plato considered “the good” to be “the one” which is the basis of all existence. Aristotle distinguished three kinds of good: corporeal (health, strength), external (wealth, honor, glory), and spiritual (intelligence, moral virtue). In the Middle Ages, scholasticism attempted to rework the ideas of the ancient philosophers in terms of the principles of Christian theism. The result was the identification of the greatest good with god, the source of all good and the ultimate goal of human aspiration.

New European philosophy emphasized the role of the subject in determining any sort of good. T. Hobbes and B. Spinoza said that the good is that for which man is striving, that which he needs. Another development which was characteristic of new European ethics was the utilitarian interpretation of good, which reduces it to the idea of usefulness. Kant distinguished the supreme good from the absolute good. The former is good will and moral virtue; and latter requires that virtue be combined with happiness. Thereafter the concept of the good gradually lost its significance and, from the middle of the 19th century was replaced by the concept of value.

In the narrower and specifically ethical sense of the word, the concept of good is opposite to that of evil.


Material goods Economists consider material goods from two different points of view: in terms of their usefulness (their capacity for satisfying a particular human need) and in terms of how much man has contributed to their production. Accordingly, there are two kinds of value—use value and exchange value. Material goods are usually considered to include consumer goods (services as well as wares) which satisfy a great variety of human needs.


References in periodicals archive ?
The Good Book is the fifth feature film for Mainstreet Productions.
If you get easily distracted at home, there's plenty of places to escape for an hour with a good book in Dubai.
BRIAN DAVIES / The Register-Guard Reading buddies Kira Banks, 5, and Morgan Conrad, 3, refuse to let something like a house fire distract them from a good book.
A: A good book to start with is the old favorite "Little Golden Book of Trees.
Mallette gives us not only a fresh look at many episode in The Faerie Queene but a careful orientation to the religious culture of Spenser's day -- more than enough for one good book.
De Lisser pounced: "But to paraphrase the Good Book, let he that is without sin cast the first stone.
There is no doubt that introducing children to the joys of a good book at an early age will pay dividends in the long term.
This is a good book for practitioners with limited computer expertise and for accountants in industry who are not "power users.
Designed as a forty-day journey through forty key chapters of the Bible, The Good Book will appeal to those who already love and read the Bible regularly as well as to those who are just beginning their Christian journey.
My nine-year-old loves nothing more than a visit to this cafe on a Saturday afternoon with a good book.