Final answer:
The Principle of Utility describes the actions or practices that are morally right if they avoid producing bad consequences, a key tenet of utilitarianism articulated by Jeremy Bentham and John Stuart Mill.
Step-by-step explanation:
The principle that describes the actions or practices that are right insofar as they avoid producing bad consequences is known as the Principle of Utility. This foundational concept of utilitarianism was first articulated by Jeremy Bentham and later expanded upon by John Stuart Mill. According to this principle, actions are considered morally right when they promote happiness and avoid causing harm, thus creating the most benefit for the greatest number of people. In contrast, actions are deemed wrong if they result in the opposite of happiness. In practical scenarios, this can involve weighing the potential outcomes of any given action and choosing the one that maximizes overall well-being or utility. For instance, in economics, utility refers to the satisfaction a consumer derives from a good or service, which might lead to decisions that provide the most value or enjoyment per cost involved.
An important extension of utilitarian thought is Mill's harm principle, which holds that individuals' freedom should only be curtailed to prevent harm to others. Meanwhile, the principle of nonmaleficence echoes a similar sentiment in clinical and research settings, stating that actions should not cause harm and any potential harm should be minimized or justified by significant benefits, such as effective treatment outcomes.