Exhibit 2-3 Production Possibilities Curve Data -According to the Data Given in Exhibit 2-3, the Production

question 14

Multiple Choice

Exhibit 2-3 Production possibilities curve data $$\begin{array} { | l | r | r | r | r | r | } \hline & \text { A } & \text { B } & \text { C } & \text { D } & \text { E } \\\hline \text { Capital goods } & 0 & 1 & 2 & 3 & 4 \\\text { Consume goods } & 20 & 18 & 14 & 8 & 0 \\\hline\end{array}$$
-According to the data given in Exhibit 2-3, the production of 1 unit of capital goods and 14 units of consumer goods:

• A) is possible but would be inefficient.
• B) may be a result of unemployment.
• C) may be a result of unused natural resources.
• D) all of these.

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Definitions:

Early Adopters

A group within a consumer base that is among the first to acquire and use a new product or technology, often influencing others.

Diffusion of Innovation

The process by which a new idea, product, or practice spreads within a society or from one society to another, often influenced by factors like social networks and communication.

Product Adopters

Individuals or entities that purchase or use new products soon after they are launched, often categorized into groups based on adoption timing.

Innovators

Individuals or organizations that are first to explore and adopt new technologies, processes, or practices before they become mainstream.