One Variable That Affects the Rate of Diffusion of a Product

question 1

True/False

One variable that affects the rate of diffusion of a product is the actual attributes of the innovation.

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Definitions:

Price Mechanism

The process through which market prices adjust to balance supply and demand, allocating resources efficiently.

Government Central Planning

A system where the government makes all decisions on the production and distribution of goods and services.

Centrally Planned

An economic system where major decisions regarding production, distribution, and investment are made by the government or a central authority.

Socialist Economy

An economic system in which the means of production, distribution, and exchange are owned or regulated by the community as a whole, with an aim toward equitable distribution of wealth and resources.