Question

Marketing is not needed in a ______________ economy. Select one:

Answer 1

Answer: c. Pure subsistence economy

Explanation:

Marketing is needed in an economy where there are at-least two parties who want to exchange goods or service for money or something else. However, in a pure subsistence economy the goods are produced for self subsistence and not for exchange in the market. It is an economy in which each family unit produces everything that it consumes. In such subsistence economies there is no need for marketing.