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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 ?
Beyond Goody Bag e-gifts are ideal for birthday parties and Bar/Bat Mitzvahs, but also can be used for weddings, bridal showers, baby showers, and other private and corporate events.
DESPERATE The Great Train Robbery netted Goody and his 17-strong gang [euro]3million - equivalent to more than [euro]46million today.
Goody Good Stuff was acquired by Cloetta from a group of investors for an undisclosed amount.
Just look what's inside your goody bag, depending on which you select.
Goody is dedicated to understanding the hair accessories consumer and her needs, helping to continue to create solutions that make the styling routines of women and girls around the world more enjoyable, company officials assert.
Goody died in March aged 27 after a battle with the cancer, which had spread around her body.
Too weak to write, Goody asked that Tweed inscribe a card for the boys that read: "Love from Mummy the Angel".
Goody died at home at the age of 27 on March 22 after losing a battle with cervical cancer.
Goody became acquainted with Jackson's brother Jermaine when they appeared together on Celebrity Big Brother in 2007.
Miss Goody would have been "overwhelmed" by the public's reaction to her death, her mother, Jackiey Budden, said as scores of well-wishers continued to lay flowers outside her home.
It will be very much a Jade Goody Production with Jade doing her own thing her own way.
Reality television star Jade Goody has been given less than four weeks to live, the lawyer for her husband Jack Tweed said.