Third electromagnetic constant of an isotropic medium

In addition to the dielectric and magnetic permeability constants, another constant is generally needed to describe the electrodynamic properties of a linear isotropic medium. We discuss why the need for the third constant arises and what sort of physical situations can give rise to a non-zero value for it. This additional constant, which we call the {\em ``Activity Constant''} and denote by $\zeta$, can explain optical activity and other phenomena from a purely macroscopic and phenomenological point of view.Comment: (LaTex, including figures drawn by Latex). One small section and some references added. This is the final version for the journa