Steven, a Construction Worker, Tends to Buy a New Gadget

question 15

Multiple Choice

Steven, a construction worker, tends to buy a new gadget if most of his friends have them. He relies on reviews from his friends rather than on television or newspaper advertisements to make his purchase decisions. It can be inferred that Steven belongs to the category of _____ in the diffusion of innovation.

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

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Definitions:

Expected Rate Of Return

The average of all possible returns for an investment, weighted by the likelihood of each outcome.

Total Investment

The total amount of money spent on acquiring or improving productive assets or investments over a period.

Market Interest Rates

The prevailing rates at which borrowers can obtain loans and lenders can invest in the financial markets.

Expected Rates Of Return

Expected rates of return refer to the anticipated profit or loss from an investment, often based on historical data and analysis of future potentials.