In an economy where there is an abundance of goods and services,advertising serves two purposes:

Question

Quizplus · Accepted Answer

In an economy where there is an abundance of goods and services, advertising serves the purpose of providing complete information to consumers so they can make informed choices. It also serves the self-interest of firms by promoting their products and increasing sales. It is not necessary to use selective demand or primary demand strategies, as the market is already saturated with options. There is no need for deceptive or corrective advertising, as there are enough options in the market for consumers to switch to if they are not satisfied with a product.

In an Economy Where There Is an Abundance of Goods