As Product Adopters, Members of the Late Majority Typically

question 221

Multiple Choice

As product adopters, members of the late majority typically:

• A)are skeptical and have below average social status.
• B)fear debt and use neighbours and friends as information sources.
• C)act with deliberation and use many informal social contacts.
• D)are leaders in social standing and have slightly above average education when compared to the other adopter classes.

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Definitions:

Unemployment

Unemployment is the situation where individuals who are capable of working and are actively seeking employment are unable to find a job.

Aggregate Demand

The complete need for every product and service within an economy at various price points, throughout a particular timeframe.

Aggregate Supply

The sum of all goods and services created in an economy, priced at a certain level, over a specific period.

Classical Dichotomy

The theoretical separation of real and nominal variables in economics, suggesting that nominal variables (like the money supply) do not affect real variables (like real GDP).