According to the Diffusion of Innovation Curve, at the Tipping

question 54

True/False

According to the diffusion of innovation curve, at the tipping point, an innovation or change is accepted by enough people for it to take root and grow.

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Definitions:

Full Employment GDP

The level of gross domestic product achieved when there is no cyclical unemployment in the economy, representing an ideal economic state where all willing and able workers find employment.

Economic Problem

When we have limited resources available to fulfill society’s relatively limitless wants.

Unemployment

The situation in which individuals who are capable of working and actively seeking employment are unable to find a job.

Inflation

A rise in the general level of prices of goods and services in an economy over a period of time.