When a Product Is First Introduced, the ________ Consider Purchasing

question 12

Multiple Choice

When a product is first introduced, the ________ consider purchasing it to be risky because it is new. After a relatively small but not insignificant number of consumers purchased the product (and probably after the price has gone down) , they conclude that purchasing the product is wise.

• A) innovators
• B) early adopters
• C) early majority
• D) late majority
• E) laggards

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Definitions:

Economic Information

Data related to the production, distribution, and consumption of goods and services that informs decision-making.

Acquire

To obtain ownership of something, such as a company purchasing another company or an individual acquiring an asset.

Self-Interest

The pursuit of personal gain or advantage, which is a fundamental economic assumption about human behavior.

Welfare

Welfare denotes governmental support aimed at ensuring the basic physical and material well-being of people, particularly those in need.