Philosophy?

Today in class we discussed what a common definition of what philosophy is. When this question was brought forth by Professor Johnson, I began to think; I don't really know what Philosophy actually is. To me, it seemed as one of those ideas of words that it is just assumed that everyone knows, however very rarely do people actually explore what they actually mean. Therefore, I felt that today I should focus my blogging on what Philosophy actually is.
Philosophy is sometimes referred to as the study of general and fundamental problems. Some of these problems consist of knowledge, existence, values, reason, mind, and language. Philosophy in Greek is translated as meaning a "love of wisdom." With this in mind, one can further explore and find 3 major sub-categories with in the Philosophy realm.
First, is the metaphysic side to philosophy. Metaphysics is the study of the nature of existence of being. Those who examine metaphysics take focus on things that take on a physical being or are in a state of being. Next, is Epistemology. Epistemology is the study of knowledge and understanding. The first two subcategories are closely related because considering the fact that knowledge of something claims recognition of things that be. In order to have an understanding of something, it must be or exist in the first place. Lastly, is axiology. Axiology is closely related to ethics and the nature of what is good.
With all of this in mind, I raise a question asking who makes judgments on what is good and bad? Where did this preconceived notion arrive from?