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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 ?
Yet the Good Morning comment on the dances still holds true: "fascinating to the spectator, and exhilarating and joyous to the participant.
Kyle Dove and Melisa Kellett are interviewed on the London Eye on Good Morning Britain | |
And Roland appeared on Good Morning Britain's predecessor Daybreak last year with Kate Garraway and Aled Jones to mark the 30th anniversary of morning shows on ITV.
What better way to start, begin, er, start Good Morning Britain," she stuttered as she introduced One Direction's new video.
However, it is understood that Ms Elliott was moved from Good Morning Wales because of a desire on the part of Radio Wales' editorial team to "refresh" the programme.
On the other hand, Good Morning America invited James Middleton, the younger brother of the Duchess for a candid chat show where he revealed that they are quite a close knit family with frequent meals relished together.
John Stones is growing into a very good player - got a great temperament which is vital at this level The world - and PHILIP NEVILLE - sound like they're finally starting to wake up to the talent that is the Everton defender Good morning Liverpool
DESPITE the temptation to borrow a line from its first weather update - "Dull, misty start" - it's far too early to say whether STV's Good Morning Britain will be any more of a success than Daybreak.
Steel Pulse's Good Morning, Good Morning shoehorns the song awkwardly into a new setting, and Within You Without You's sitar jars with that reggae beat.