1. Money makes the exchange process easier because everyone values $1 in the same way. We don't have to carry around items to trade if we would go shopping. If we didn't have money, people would have to trade an item or an item. For example, if I had a chicken, I could trade it for a basket of food if the owner believes it has the same value of the chicken. 2. I recently purchased a bracelet online. The item costs approximately $3 to make for the company which would be the real value. I bought the bracelet for $14.00 which was the perceived value. 3. The internet has changed marketing in many ways. Years ago, people were not able to purchase product online. This makes it easier for companies to sell their items to consumers which increases profit. This way, consumers that are not able to go out to the store or outlet can still make their purchases. Also, advertisements costs has decreased due to printing and distribution. Advertisements can now we free on social media.
- Winter '17