The Kind of Advertisements That State the Position of a Company

question 163

Multiple Choice

The kind of advertisements that state the position of a company on an issue, such as the ads sponsored by Miller beer encouraging the responsible use of alcohol, are ________ advertisements.

• A)advocacy
• B)competitive
• C)reminder
• D)pioneering

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Definitions:

Absolute Advantage

The ability of a party (country, company, individual) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources.

Comparative Advantage

The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than competitors, leading to more efficient trade possibilities.

Specialize

Refers to the process of focusing on a specific area of knowledge or skill within a broader field.

Comparative Advantage

The ability of a party to produce a particular good or service at a lower marginal and opportunity cost over another.