_____ Are the First 2

question 41

Multiple Choice

_____ are the first 2.5 percent of all those who first adopt a new product.​

• A)Innovators
• B)​Early adopters
• C)​Laggards
• D)Early majority

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Definitions:

Barriers

Obstacles that prevent or hinder the movement or action of goods, services, people, or information.

Identical Product

A product that is exactly the same as another in every way, making it indistinguishable in terms of quality, appearance, and function.

Economies of Scale

This concept describes the cost advantage achieved by an enterprise when production becomes efficient, resulting in a decrease in the per-unit cost as output increases.

Perfect Competition

describes a theoretical market structure characterized by many buyers and sellers, homogenous products, and free entry and exit, leading to optimal distribution of goods and services.