Identify a Similarity Between Laggards and Innovators

question 25

Multiple Choice

Identify a similarity between laggards and innovators.

• A) Neither relies on group norms.
• B) Neither is rooted in tradition.
• C) Both are eager to try new products.
• D) Both exhibit short adoption time.

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Definitions:

Period Cost

Expenses that are incurred in a particular time period and are not directly tied to the production process, such as selling, general, and administrative expenses.

Advertising Expense

A cost incurred by a business to promote its products, services, or brand names.

Indirect Materials

Materials that are used in the production process but are not directly traceable to a finished product, such as lubricants and cleaning supplies used in a manufacturing facility.

Prime Cost

The combined direct costs of manufacturing a product, specifically direct materials and direct labor.