Primary Reasons Advertising Managers Ought to Know Basics of the Production

question 80

Multiple Choice

Primary reasons advertising managers ought to know basics of the production processes include all of the following EXCEPT:

• A)involves quality of results.
• B)affects effective, efficient use of time.
• C)affects costs.
• D)affects how their subordinates perceive them.
• E)affects people under their supervision.

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Definitions:

Consumer Surplus

The contrast between what consumers are equipped and willing to dish out for a good or service against what they genuinely pay.

Total Utility

The overall satisfaction or utility a consumer derives from consuming a certain quantity of goods or services.

Philosopher-Economist

An individual who contributes to the fields of philosophy and economics, often analyzing the ethical implications of economic theories or decisions.

Jeremy Bentham

A British philosopher, jurist, and social reformer in the 18th century, known as the founder of modern utilitarianism.