Which of the Following Is Considered a Societal Role of Advertising

question 73

Multiple Choice

Which of the following is considered a societal role of advertising?

• A)Creates a more rational economy.
• B)Reaches a mass audience.
• C)Plays an educational role.
• D)Provides consumers with objective price-value information.
• E)All of the above.

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Definitions:

Marginal Utility

This concept describes the additional satisfaction or utility a consumer receives from consuming one more unit of a good or service.

Total Utility

The complete satisfaction or benefit a consumer receives from consuming a certain amount of goods or services.

Diminishing Marginal Utility

A common economic concept stating that as a person consumes more of a product, the satisfaction (utility) gained from each additional unit decreases.

Total Utility

It is the total satisfaction or benefit that a consumer derives from consuming a certain quantity of goods or services.