Review Key Concepts

1. Explain why the definition of marketing changes over time.

2. Identify an example of an economic good and an economic service.

1. Because marketing of goods must comply with current marketing practices. Trends and consumer perceptions must be maintained. It is important.

This refers to the acquisition, distribution, and marketing of goods, services or trademarks, such as advertisement and market analysis, and the production of the products for customers or end-users.

2. An example of an economic good and an economic service:

Economic goods: cars, furniture, television, and clothing

Economic services: cooking a hamburger, cutting hair