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One blood donation, for example, can help save up to three lives. Giving a random stranger a few genuine words of encouragement can help turn their day around in a massive way.
Better put, the justification of character, and whether an action is good or not, is based on how the person contributes to the concept of social utility. In the long run the best proof of a good character is good actions; and resolutely refuse to consider any mental disposition as good, of which the predominant tendency is to produce bad conduct.
In this teleological view, the good stems from objective facts about human life and purpose, which may vary, depending upon peoples' occupations, virtue-levels, etc. [13] However, noting that only citizens have the salvation (common good) of the city at heart, [21] Aristotle argues that, regardless of form of government, [17] [18] [22] those ...
An inelastic good is one for which there are few or no substitutes, such as tickets to major sporting events, [8] original works by famous artists, [1] and prescription medicine such as insulin. Complementary goods are generally more inelastic than goods in a family of substitutes.
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For example, consider national defence, a standard example of a pure public good. Suppose Homo economicus thinks about exerting some extra effort to defend the nation. The benefits to the individual of this effort would be very low, since the benefits would be distributed among all of the millions of other people in the country.
Veblen goods such as luxury cars are considered desirable consumer products for conspicuous consumption because of, rather than despite, their high prices.. A Veblen good is a type of luxury good, named after American economist Thorstein Veblen, for which the demand increases as the price increases, in apparent contradiction of the law of demand, resulting in an upward-sloping demand curve.
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