Relative Advantage, Compatibility, Complexity, Divisibility, and Communicability Are All Characteristics

question 97

Multiple Choice

Relative advantage, compatibility, complexity, divisibility, and communicability are all characteristics of ________.

• A) alternative evaluations
• B) the degree of buyer involvement
• C) a product's rate of adoption
• D) unexpected situational factors
• E) postpurchase behaviors

---

Definitions:

Productive Efficiency

A situation where a firm or economy can no longer produce additional amounts of a good without lowering the production level of another product, utilizing resources in the best way possible.

Allocative Efficiency

A situation in which resources are distributed in a way that aligns with the preferences and needs of society, maximizing social welfare and utility.

Product Variety

Product Variety refers to the range of different products or services offered by a firm or available in a market.

Allocative Efficiency

A state of economic efficiency where resources are distributed in a way that maximizes the net benefit to society.