We have proved without sentiment and beyond reasonable doubt that truthfulness is indispensable to advertising because the public will gain from it but loose from deceptive advertising. Since every social relation is built on truth, therefore, truthfulness in advertising makes good background for effective communication. To the best of our knowledge, language is an instrument for action and such language should be devoid of deception because deception is always detrimental to public interest.
In 1997, over $700 billion purchases were charged on credit cards, and this total is increasing at a rate of over 10 per cent a year. At first glance, the credit card market would seem to be a rather concentrated industry. Visa, MasterCard and American Express are the most familiar names, and over 60 per cent of all charges are made using one of these three cards. But on closer examination, the industry seems to exhibit most characteristics of perfect competition. Consider first the size and distribution of buyers and sellers. Although Visa, Mastercard and American Express are the choices of the majority of consumers, these cards do not originate from just three firms. In fact, there are over six thousand enterprises (primarily banks and credit unions) in the US that offer charge cards to over 90 million credit card holders. One person's Visa card may have been issued by his company's credit union in Los Angeles, while a next door neighbour may have acquired hers from a Miami B