What Is the Significance of Mills' Distinction Between the Pleasure

question 28

Essay

What is the significance of Mills' distinction between the pleasure of a "pig satisfied," in contrast to "Socrates satisfied?" What does this distinction add to Bentham's version of utilitarianism?

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Definitions:

Direct Labor-Hours

The number of hours spent by workers producing a company's goods, a measure of direct labor input.

Standard Cost System

An accounting method where costs are predetermined for product costing, facilitating variance analysis between expected and actual costs.

Fixed Manufacturing Overhead

Indirect costs associated with manufacturing that do not vary with the level of production, such as salaries of managers and depreciation of factory equipment.

Variances

The difference between expected and actual figures in budgeting and financial forecasting.