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Questions and Answers
According to the Cantril Ladder concept, what does the top of the ladder represent?
According to the Cantril Ladder concept, what does the top of the ladder represent?
- The best possible life (correct)
- The worst possible life
- Average life
- Luxurious life
What does Donald Thompson consider the pursuit of happiness to be?
What does Donald Thompson consider the pursuit of happiness to be?
- Public good
- Excludable good
- Private good (correct)
- Common property
In the context of goods, what does 'excludable' mean?
In the context of goods, what does 'excludable' mean?
- Can be possessed or consumed by a single user
- Can be prevented from benefitting if not paid for (correct)
- Prevents another individual from consuming it
- A type of good that must be purchased to be consumed
What does 'rivalry' refer to in relation to goods?
What does 'rivalry' refer to in relation to goods?
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Which country holds the top spot in the World Happiness Report according to Sustainable Development Solutions Network (SDSN)?
Which country holds the top spot in the World Happiness Report according to Sustainable Development Solutions Network (SDSN)?
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Study Notes
The Good Life
- The phrase "living the good life" implies living in comfort and luxury with few problems or worries.
Cantril Ladder
- The Cantril Ladder is a main evaluation question asked in the Gallup World Poll used by the Sustainable Development Solutions Network (SDSN) in the World Happiness Report.
- It is a self-assessment tool that asks individuals to rate their current life on a scale from 0 (worst possible life) to 10 (best possible life).
- The ladder is used to gauge people's subjective well-being and happiness.
World Happiness Report
- The World Happiness Report has been published annually for the past five years.
- Norway ranked 1st in the report, while the Philippines ranked 72nd.
Private Goods
- A private good is a product that must be purchased to be consumed, and its consumption by one individual prevents another individual from consuming it.
- Characteristics of private goods include:
- Excludability: one can be prevented from benefitting from a good if they haven't paid for it.
- Rivalry: a good can only be possessed or consumed by a single user.
Donald Thompson
- Donald Thompson is a professor of Food Science at Penn State University Park.
- He states that the pursuit of happiness is commonly cited as a private good.
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