BASIC GOOD Meaning and
Definition
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Basic good refers to a fundamental or essential product or service that is necessary for survival, well-being, or functionality in society. These goods are typically considered essential or indispensable for an individual, household, or community to meet their basic needs and maintain a reasonable quality of life.
Basic goods encompass a wide range of items and services that are considered essential for human existence. This includes access to clean water, nutritious food, shelter, clothing, healthcare, education, and basic utilities such as electricity and sanitation. These goods are often seen as basic rights that individuals are entitled to in order to live a dignified life.
In economics, basic goods are distinguished from luxury goods, which are non-essential items that are often consumed for pleasure or comfort rather than survival. Basic goods are considered the foundation of an individual's well-being and their availability and affordability are of paramount importance for social development and poverty alleviation.
Governments and societies strive to ensure the provision of basic goods to all individuals, particularly the economically disadvantaged or marginalized populations, through various policies, programs, and resource allocations. Ensuring universal access to basic goods is viewed as a crucial step towards achieving social justice, equitable distribution, and human rights fulfillment.
Etymology of BASIC GOOD
The term "basic good" does not have a specific etymology as it is a combination of two words, "basic" and "good", which have separate origins.
The word "basic" comes from the Latin word "basicus", meaning "pertaining to a base or foundation". It eventually made its way into English in the 19th century with the same meaning, referring to something fundamental or essential.
The word "good" can be traced back to the Old English word "gōd", which means "pleasing, valuable or favorable". It has Germanic roots that are shared with other Germanic languages. The concept of "good" has been used across various languages and cultures with similar definitions.
When combined, "basic good" refers to a fundamental or essential item or service that is necessary for a person's well-being or survival.
