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TO SHOW HOW ECONOMICS has affected the growth of advertising. You'll learn the basic principles of free-market economics; the functions and effects of advertising in a free economy; the evolution of advertising as an economic tool; and advertising's overall impact on society. The chapter will help you understand why the practice of advertising has changed and how it may change even more in the future.

After studying this chapter, you will be able to:
  1. Explain the role of competition in free-market economics.
  2. Discuss the various functions advertising performs in a free market.
  3. Identify important milestones in the history of advertising.
  4. Discuss how the role of advertising has changed in recent years.
  5. Explore the impact of advertising on society yesterday, today, and tomorrow.





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