Search results
Results from the WOW.Com Content Network
A formal philosophy of ethical calculus is a development in the study of ethics, combining elements of natural selection, self-organizing systems, emergence, and algorithm theory. According to ethical calculus, the most ethical course of action in a situation is an absolute, but rather than being based on a static ethical code, the ethical code ...
In ethical philosophy, utilitarianism is a family of normative ethical theories that prescribe actions that maximize happiness and well-being for the affected individuals. [1] [2] In other words, utilitarian ideas encourage actions that lead to the greatest good for the greatest number.
The felicific calculus is an algorithm formulated by utilitarian philosopher Jeremy Bentham (1748–1832) for calculating the degree or amount of pleasure that a specific action is likely to induce.
The unit cost is the price incurred by a company to produce, store and sell one unit of a particular product. Unit costs include all fixed costs and all variable costs involved in production. Cost unit is a form of measurement of volume of production or service.
In economics, average cost (AC) or unit cost is equal to total cost (TC) divided by the number of units of a good produced (the output Q): A C = T C Q . {\displaystyle AC={\frac {TC}{Q}}.} Average cost is an important factor in determining how businesses will choose to price their products.
Economic ethics is the combination of economics and ethics, incorporating both disciplines to predict, analyze, and model economic phenomena. It can be summarised as the theoretical ethical prerequisites and foundations of economic systems.
Note: Most subscribers have some, but not all, of the puzzles that correspond to the following set of solutions for their local newspaper. CROSSWORDS
Variable costs are sometimes called unit-level costs as they vary with the number of units produced. Direct labor and overhead are often called conversion cost, [3] while direct material and direct labor are often referred to as prime cost. [3] In marketing, it is necessary to know how costs divide between variable and fixed. This distinction ...