[Sociology 2275A/B] - Final Exam Guide - Everything you need to know! (29 pages long)

• School: Western University
• Department: Sociology
• Course: Sociology 2275A/B
• Professor: Doug Mann

Document Summary

Advertising raises the prices of goods because it is an unnecessary business cost whose main effect is to circulate a great deal of extra praise in unsuitable places. Economists: advertising is a beneficial components of modern economics and that significant increases in the standard of living and consumer satisfaction can be attributed to it. Permits economies of scale that are reflected in lower prices for consumers. Advertising is an efficient means of distributing information about huge, ever changing products. The results in continuous product innovation and improvement because there is an effective and cheap means available to inform consumers of new and improved products. Without a mechanism for mass distribution of information about products, the significant economies of scale achieved by national producers for mass market might not occur. Growth of advertising is correlated to growth of industrial economy but whether as cause or effect is difficult to determine.