What are 4 examples of where you can see advertisements.
TV, radio, the Internet, billboards, magazines, newspapers, store signs, etc.
200
Describe 2 reasons why Oprah Winfrey is famous.
Answers may include:
- She grew up poor and became rich
- She has done many radio and TV shows
- She was the first African American woman to become a billionaire
- Her organizations give lots of money away to help people
200
What is "the market" in your own words?
Exchange of goods and services by buyers and sellers. In other words, the market is how companies sell their products and how people buy them.
200
Why should advertisers market to tweens these days?
They spend a lot of money on products!
300
What is the name of Yvon Chouinard's company?
Patagonia
300
1. If a disease makes a lot of cows die and farmers cannot get a lot of milk, what will probably happen to supply and demand?
2. Imagine that a new product, digital paper, is very popular right now and stores are selling their whole supply. What two things will the company probably do?
1. Demand will be much higher than supply.
2. They will probably increase the price and increase the supply.
300
What do advertisers need to think about?
People's motivation- their reasons for buying something
400
How are Yvon Chouinard and Oprah Winfrey similar. Give examples to support your answer.
They both donate money for important things.
For example: Yvon's company gives money to help the environment; Oprah gives money to people who try to help others.
400
Explain the laws of supply and demand. You must describe both laws clearly to get points.
The law of demand states that people will usually buy more when it's at a lower price. The law of supply states that producers (companies) will usually supply more of a product if they can increase the price.
400
What are "market segments" and give at least 2 examples.
Market segments are groups of people or organizations with similar characteristics.
For example: young boys who like sports
For example: women 40-60 who are interested in cooking