Role of marketing in the economy Flashcards
1
Q
1
A
Allows for specialization in activities of comparative advantage
2
Q
2
A
Advances economic growth by readjusting resources according to the changes in the market as it is flexible
3
Q
3
A
Enables the economy to measure itself as it sets prices which can be used as a measure of value
4
Q
4
A
Gives greater choice to consumers
5
Q
5
A
It develops product standards. If developed for the long term, marketing, over time, improves the quality of all the products in the market
