The intended consequences of advertising is to__________________?
Correct answer: D. All of the above
- A. increase consumption
- B. create brand awareness and direct consumption
- C. create demand
- D. All of the above
Explanation
Advertising is intended to raise consumption by creating brand awareness, directing consumers toward particular products, and stimulating demand. Thus, all three listed effects describe its intended purpose.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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