Name______Date______Class______Chapter 3 Marketing Begins with Economics

NEWSLINE: COMPETITION AND CABLE TV

VISUAL FOCUS: MORGAN STANLEY

LESSON 3.1 SCARCITY AND PRIVATE ENTERPRISE

THE IMPORTANCE OF ECONOMIC UNDERSTANDING

The Basic Economic Problem

Who Makes the Decisions?

AMERICA’S PRIVATE ENTERPRISE ECONOMY

Characteristics

Consumers

Producers

Government

Economic Forces

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LESSON FEATURES Digital Digest: Database Marketing Made Easy

Virtual Marketing: The Emergence of Online Auctions

LESSON 3.2 OBSERVING THE LAW OF SUPPLY AND DEMAND

MICROECONOMICS AND CONSUMER DEMAND

Factors Affecting Demand

Analyzing Demand Curves

SUPPLYING THE PRODUCT

Handling the Competition

Analyzing a Supply Curve

Intersecting Supply and Demand

LESSON FEATURE Net Bookmark: Supply and Demand

LESSON 3.3 TYPES OF ECONOMIC COMPETITION

ALL-OUT COMPETITION OR NO COMPETITION AT ALL

Pure Competition

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Monopoly

BETWEEN THE EXTREMES

Oligopolies

Monopolistic Competition

Understanding the Competition

LESSON FEATURE Figure This: Measuring the Demand Curve

LESSON 3.4 ENHANCING ECONOMIC UTILITY

UTILITY MEANS SATISFACTION

Form Utility

Time Utility

Place Utility

Possession Utility

UTILITY AS A MARKETING TOOL

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LESSON FEATURES Get the Message: The Changing Face of Radio

SOS: Communicate with Charts and Graphs

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