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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 product line consists of two eight-ounce dry cereals, and five varieties of four-ounce jarred food each in the Good Morning and Good Evening divisions.
Good Evening Britain's controversial joke spectacularly backfires as Britain's Got Talent comedian mocks 'beach salesman in Marbella'
At last year's National Eisteddfod, BBC Radio Wales broadcast a special hour-long show from the maes and we provided live coverage on Good Morning Wales, Good Evening Wales and Roy Noble's show.
A good evening primrose oil and fish oil supplement will help.
It was also a good evening for Coldplay who won three awards and Adele, 20, who picked up two.
Landlady Kay Murdy said: "Mr Campbell remarked on how much of a good evening he had and this goes to show that the people of Blyth and the Isabella are a fine bunch of people.
"Everyone had a very good evening and enjoyed the Moroccan feel that Nerys had managed to create in Penarth Athletic Club with great food and decoration," said Karen Jones, hospice fundraising manager.
Milton Keynes used a number of youngsters too, and it was a good evening."
The Labour leader appeared on Good Evening Britain on Thursday, hosted by Piers Morgan alongside other politicians and celebrity guests
Haggas should have a good evening at Thirsk, too, where the progressive Lordofthehouse is taken to pick up where he left off last season in the GT Group Handicap.
I enjoy listening to the radio a lot and I work on the radio now two days a week when I present Good Evening Wales on BBC Radio Wales.
Nisar Smiler said: "It was a very good evening and it was important for us to include all of the communities in Huddersfield."