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ADVERTISING: Information provided about a product by a company to promote or maintain sales, revenue, and or profit. Advertising is often an explicit method of signalling that sellers use to provide information to buyers. The primary objective of advertising from the sellers perspective is to increase (or at least maintain) demand for a product. To accomplish this objective advertising provides buyers with two important types of information -- prices and product quality.

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Lesson 9: Consumer Demand | Unit 2: Total Utility Page: 6 of 22

Topic: A Measure Of Satisfaction <=PAGE BACK | PAGE NEXT=>

  • Total utility is the total satisfaction of wants and needs obtained from the use or consumption of a good and service.

    Utility and Demand

  • The analysis of demand involves making total-utility comparisons for different quantities of a good.

    Utils

  • In the real world, utility is not measurable.
  • However, in the unreal world of economic instruction, it is convenient to assignment measurement units to utility.

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OLIGOPOLY, REALISM

Real world markets are heavily populated by oligopoly. About half of all output produced in the U.S. economy each year is done so by oligopoly firms. Other industrialized nations can make a similar claim. Oligopoly markets arise in a wide assortment different industries, ranging from manufacturing to retail trade to resource extraction to financial services.

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APLS

ORANGE REBELOON
[What's This?]

Today, you are likely to spend a great deal of time flipping through mail order catalogs looking to buy either a remote controlled train set or a genuine down-filled snow parka. Be on the lookout for gnomes hiding in cypress trees.
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This isn't me! What am I?

The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
"Good judgment comes from experience, and often experience comes from bad judgment."

-- Rita Mae Brown ‚ Writer

DOL
Department of Labor
A PEDestrian's Guide
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