Question

According to economist John Kenneth Galbraith, advertising and marketing were creating the very consumer demand that production then aimed to satisfy. The assertion that consumer demand relies upon what producers have to sell is termed:?

Answer 1

Answer:

B. the dependence effect.

Explanation:

In marketing, the dependence effect refers to consumer needs and wants being created by advertising and other marketing activities. Many argue that this type of practice is a violation to the consumers' autonomy and right to decide by there own what they need and want. According to Galbraith, "If the individual's wants are urgent, they must be original with himself."