Which Statement Best Synthesizes the Historical Significance of the Rise

question 7

Multiple Choice

Which statement best synthesizes the historical significance of the rise of modern advertising in the 1920s?

• A) It promoted a therapeutic ethic, suggesting that consumption could contribute to physical and emotional well-being.
• B) It informed Americans about the new range of products available to them and the benefits they could hope to obtain from them.
• C) Advertising prompted the creation of modern radio networks that would soon crowd out small niche-market competitors.
• D) Advertising created the mass markets that allowed for economies of scale through which consumer goods became much cheaper for Americans.

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Definitions:

Inferior Good

A type of good whose demand decreases when consumer income rises, inverse to a normal good.

Indifference Curve

A graphical representation that shows different combinations of two goods among which a consumer is indifferent.

Total Utility

The total satisfaction or benefit a consumer receives from consuming a particular quantity of goods or services.

Indifference Curves

Graphical representations in microeconomics to illustrate a consumer's preference among different bundles of goods, where each point on the curve represents a combination of goods that provides the same level of utility to the consumer.