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Explain Hardin's lifeboat ethics. How is it related to his view of famine relief? Discuss how his notion of the tragedy of the commons is related.
Normal Return
The expected return on an investment under normal conditions, considering historical averages and market conditions.
Excess Earnings
Profits that exceed the normal expected return on investment or capital for a business operation or asset.
Fair Value
The estimated price at which an asset or liability could be bought or sold in an orderly transaction between market participants.
Goodwill
A non-physical asset that comes into existence when a company is purchased at a price higher than the fair market value of its net identifiable assets.
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