Advertising Agencies That Specialize in One Aspect of the Advertising

question 127

Multiple Choice

Advertising agencies that specialize in one aspect of the advertising process such as providing creative services to develop advertising copy,buying previously un-purchased media space,or providing Internet services are referred to as __________.

• A)full-service agencies
• B)in-house agencies
• C)modified-service agencies
• D)promotional firms
• E)limited-service agencies

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Definitions:

Society

A community of people living in a more or less ordered community, often characterized by its laws, customs, and organizations.

Invisible Hand

A metaphor introduced by Adam Smith to describe the self-regulating behavior of the marketplace, where individual self-interests unintentionally benefit society.

Adam Smith

An 18th-century Scottish economist and philosopher, best known for his theories on capitalism and the invisible hand of the market.

Free Market

A system of voluntary exchange in which every agent is free to produce, buy, and sell “as the market will bear,” without interference or standards set by any outside authority.