1. Eudaimonia (living well) and the Human Person
(a) "The good is that at which all things aim." Some goods are relative, since they are also means to other ends. (e.g., the end of making money is an end to securing external goods such as shelter and food, and external goods are means to health and vitality). Aristotle thinks there is one good that is sought for not for the sake of anything else: the summum bonum (greatest good). The greatest good is eudaimonia (living well, doing well, flourishing).
(b) To understand what eudaimonia is we must understand what the human person is, i.e., what the nature or essence of the human person is. The human person is a rational (and social) animal. Logos (reason, plan, or rule) is the characteristic human function, a function that reveals the human form or essence.
(c) By virtue of being rational animals we naturally live by a plan or rule. But just as the good life is an activity of reason in accordance with excellence, eudaimonia depends on having the right rule or plan.
2. The Right Plan for Human Persons
(a) The right rule or plan is the one that leads to our possessing what is really good for us, what is needed to live well.
(b) Real goods are NEEDS deriving from our natural desires; whereas apparent goods are WANTS deriving from acquired desires.
(c) The good life (eudaimonia) involves three real goods, each of which corresponds to an aspect of our nature.
External goods are a means to bodily goods, and both these goods are required for goods of the soul. Without food we become physically ill. A sick or dying person is not interested in studying physics or going out with friends. Also, goods of the soul are unlimited real goods (of which we can never have enough), whereas the other goods are limited (since we can sometimes have too much of them).
3. Good Actions and Good Habits
(a) Right actions are those actions that lead to the acquisition and sustenance of real goods (and thus move us toward eudaimonia); wrong actions are actions that lead away from real goods (and thus move us away from eudaimonia).
(b) Good habits are dispositions to act rightly. They are necessary to ensure that we obtain and possess all real goods, and thus live well. We sometimes want more than we need. We sometimes want things that are only apparent goods for us and that conflict with what is really good for us. We sometimes think that all real goods are equally important. Therefore, we sometimes fail to make the right choices. Sometimes we make many wrong choices. There is, therefore, a need to have a means to securing the likelihood of right choices over wrong choices. Good habits play that role according to Aristotle. "Temperance" and "courage" are two examples of good habits or moral virtues.
Moral virtue is also closely related to intellectual virtues (i.e., the right way of thinking), especially the virtue of practical wisdom, which Aristotle defines as knowing what is right for a person in general (given the kind of being a human person is) and what is right for a particular person (given his or her particular situation and circumstances). Practical wisdom involves the application of a general rule.
(c) Hence, good habits are necessary so that we desire those things that should (i.e., which are needful) and also that we in fact obtain what we should desire. Good habits also are necessary so that we do not desire what we should not obtain (i.e., those things that move us away from real goods).