Revision History Introduction There are two ways of thinking about ethics, which manifest themselves as two clusters of concepts and language, or domains of discourse, used to recommend or command specific actions or habits of character.
Benefits[ edit ] Secondhand goods can benefit the purchaser as the price paid is lower than that of the same items bought new. If the reduction in price more than compensates for the possibly shorter remaining lifetime, lack of warranty, and so on, there is a net benefit.
Selling unwanted goods secondhand instead of discarding them obviously benefits the seller. Recycling goods through the secondhand market reduces use of resources in manufacturing new goods, and diminishes waste which must be disposed of, both of which are significant environmental benefits.
However, manufacturers who profit from sales of new goods lose corresponding sales. Scientific research shows that buying used goods reduces carbon footprint and CO2 emissions significantly compared to the complete product life cycle, because of less production, raw material sourcing and logistics.
Goods may cause problems beyond their value; for example, furniture may have not easily seen bedbugs which may cause an infestation which is difficult and expensive to eradicate. Faulty electrical and mechanical goods can be hazardous and dangerous. This is especially a big issue if sold to countries that do not have recycling facilities for these devices, which has led to an issue with electronic waste.
Types of transfers[ edit ] Many items that are considered obsolete and worthless in developed countriessuch as decade-old hand tools and clothes, are useful and valuable in impoverished communities in the country or in developing countries.
Underdeveloped countries like Zambia are extremely welcoming to donated secondhand clothing. The used garments and materials that were donated to the country also allowed for the production of "a wide range of fabrics" whose imports had been previously restricted.
Not only does this provide self-employment, but it also increases household income and enhances the economy. Countries like Poland, Philippines and Pakistan have been known to reject secondhand items for "fear of venereal disease and risk to personal hygiene".
Both Goodwill Industries and the Salvation Army websites have lists of items with their estimated range of values. Another way that people transfer used goods is by giving them to friends or relatives.
When a person gives an item of some value that they have used to someone else, such as a used car or a winter coat, it is sometimes referred to as a "hand-me-down".
Online auction sites have become a popular way to sell used goods in recent years. Used items can often be found for sale in thrift stores and pawnshopsauctionsgarage salesand in more recent times online auctions. Some stores sell both new and used goods e.
For example, some musical instrument stores and high-end audio stores only sell new gear, but they will accept good quality used items as trade ins towards the purchase of new items; after the store purchases the used items, they then sell them using online auctions or other services.
When an item is no longer of use to a person they may sell or pawn it, especially when they are in need of money.
Items can also be sold or taken away free of cost as scrap e. Owners may sell the good themselves or to a dealer who then sells it on for a profit.
They may also choose to give it away to another person this is often referred to as freecycling. However, because the process takes some effort on part of the owner they may simply keep possession of it or dump it at a landfill instead of going to the trouble of selling it.
It has been common to buy secondhand or used good on markets or bazaars for long time. When the web became popular, it became common with websites such as eBay and Yahoo! Purchases[ edit ] As dumped used goods take up space in landfills, some may purchase them for environmental motivations.Mar 28, · Make The Decision: Perhaps most importantly, you must have a bias toward action, and be willing to make the decision.
Moreover, you must learn to make the best decision possible even if you possess an incomplete data set. Start studying economics Learn vocabulary, terms, and more with flashcards, games, and other study tools.
Search. ambitious leaders who decide how to combine land, labor, and capital resources to create new goods and services. in which economy does only the government make economic decisions. centrally planned economy. The good has to do with achievement of goals; the right, with laws and rules.
The goodness paradigm recognizes that people have desires and aspirations, and frames values in terms of what enables a being to achieve its ends. Second-hand goods If your second-hand goods aren’t what you expected, you may be entitled to a refund.
Whether you can get one will depend on who you’ve bought your items from - a trader or an individual. The behavior and decisions of an individual, firm, industry, or market and the resulting impact on the prices of specific goods, services, and resources.
Macroeconomics focuses on the economy as a whole and the behavior of aggregate sectors such as consumers, businesses and government. Economic models help managers and economists analyze the economic decision-making process. Each model relies on a number of assumptions, or basic factors that are present in all decision .