Do you consider marketing as an important human activity? why or why not?

Yes, because marketing not only applies to business but also to personal life for
example finding a job. When finding a job, you need to market yourself to get the job
and to empress the employer. Also, during campaign period, a government official
needs to market himself or herself to gain trust and cast votes from the people who
were listening during the speech. Marketing is not only for a big business organization,
but it is also used to any person in order to gain something, like for example you want to
sell something so in this case, you need to apply a little marketing on it  to get sales.
Nowadays, we have so many marketing tools to inform audiences such Facebook
marketing, tweeter, Instagram, YouTube and even Tik Tok is also used to market
something.

What happens when the business firm fails to sell its product?

The business will become overstocked with unsellable goods. No sales mean no
money coming in, yet the business still has to pay out for wages, premises, creditors,
and so on. It will bankrupt.