Innovators Are Tradition-Bound and Adopt an Innovation Only When It

question 48

True/False

Innovators are tradition-bound and adopt an innovation only when it has become something of a tradition itself.

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Definitions:

Widely Used

A term denoting something that is utilized by a large number of people or entities across various contexts.

Real Gross Domestic Product

A measure adjusted for inflation that shows the value of all products and services produced within an economy in a specific year.

Nominal Gross Domestic Product

The market value of all final goods and services produced within a country in a year, measured using current prices without adjustment for inflation.

Price Level

The average of current prices across the entire spectrum of goods and services produced in the economy, a measure of inflation or deflation.