Marketing: Goods and Services Textbook Pages 27-30

Who consumes these goods and services?

Meaning of

Efficiency -

Freedom -

Security -

Equity -

What decisions do societies make that determine how goods and services are consumed to meet people's needs for good and medical care? Who gets to drive luxury cars and who can only afford bus fare? Who gets access to a college education?

How do different societies answer the 3 economic questions based on the importance they attach to the various economic goals?

Figure 2.2 Household income rose between 1976 and 2011 at all 5 levels - but not at equal rates. Which group saw the greatest change?