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A consumer good or "final good" is any item that is ultimately consumed, rather than used in the production of another good. For example, a microwave oven or a bicycle that is sold to a consumer is a final good or consumer good, but the components that are sold to be used in those goods are intermediate goods.
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
This form is the basis for understanding all other forms, it is what allows us to understand everything else. Through the conversation between Socrates and Glaucon (508a–c) Plato analogizes the form of the Good with the sun as it is what allows us to see things. Here, Plato describes how the sun allows for sight.
The demand function of a normal good is downward sloping, which means there is an inverse relationship between the price and quantity demanded. [8] In other words, price elasticity of demand is negative for normal goods. Common goods mean that demand and price change in the opposite direction.
Book XIX of this, the main locus of Augustine's normative political thought, is focused on the question, 'Is the good life social?' In other words, 'Is human wellbeing found in the good of the whole society, the common good?' Chapters 5–17 of Book XIX address this question. Augustine's emphatic answer is yes (see start of chap. 5).
in good faith: In other words, "well-intentioned", "fairly". In modern contexts, often has connotations of "genuinely" or "sincerely". Bona fides is not the plural (which would be bonis fidebus), but the nominative, and means simply "good faith". Opposite of mala fide. bona notabilia: note-worthy goods
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In other words, a single person's life is, ultimately, not important or worthwhile in itself, but is good only as a means to the success of society as a whole. Some elements of Confucianism are an example of this, encouraging the view that people ought to conform as individuals to demands of a peaceful and ordered society.