MDSA01H3 Lecture 2: Final Prep
Document Summary
Ownership and economics of the media: digital advertising surpassed tv in 2013 in canada. (interactive. Magazine, newspaper: two aspects to economic markets: The boundaries within which this offer takes place. Economic markets lead to convergence sellers with same groups of consumers & services robert g. picard. Lead to shifted market boundaries: media markets serve two markets at the same time: Advertising market: prosumers: consumers of media becoming producers, robert g. picard: 5 groups served by the media, owners, audiences, governments, advertisers, workers, western democracies value freedom of the individual and freedom of the market. Free markets self-regulate through rates of supply and demand. In contemporary economies, corporate monopolies dominate the market and squeeze out smaller players. Governments also intervene in economic processes: economism. Free market reduces all products to commodities. Economic costs and benefits that are not accounted for by the immediate transaction between buyer and seller.
