According to the Diffusion of Innovation Concept, Consumers Who Are

question 140

Multiple Choice

According to the diffusion of innovation concept, consumers who are venturesome, higher educated, and use multiple information sources in their adoption of products are called

• A) innovators.
• B) early adopters.
• C) the early majority.
• D) the late majority.
• E) laggards.

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Definitions:

Sinking Fund

A savings account or fund dedicated to paying off debt or a bond, where money is set aside over time to manage future repayment obligations.

Depreciating Equipment

Equipment or machinery that decreases in value over time due to use, wear and tear, or obsolescence.

Technological Innovation

The development and application of new technologies and ideas to improve goods, services, or processes, enhancing efficiency or value.

Output

Total quantity of a product or service produced within a given timeframe, reflecting the overall production capacity.