The First Oil Shock to Have a Large Impact on the U.S

question 292

Multiple Choice

The first oil shock to have a large impact on the U.S. economy came in:

• A)1973.
• B)1977.
• C)2005.
• D)2007.

---

Definitions:

Market Trends

The general direction in which a market or the preferences of consumers are moving over time.

Early Majority

A category of consumers that gather more information and spend more time deciding to make a purchase than innovators and early adopters.

Early Majority

A segment of consumers adopting new products or innovations just before the average person, following the innovators and early adopters.

Consumer Adoption Process

The stages consumers go through in accepting and becoming loyal users of a new product or service, including awareness, interest, evaluation, trial, and adoption.