Consumers Learn About New Products for the First Time and Make

question 161

Multiple Choice

Consumers learn about new products for the first time and make the decision to make full and regular use of them during the ________.

• A)new product recognition
• B)adoption process
• C)evaluation process
• D)information search
• E)quality assessment

---

Definitions:

Productive Capacity

The maximum output that an economy can produce without increasing inflation, driven by available resources and technology.

Specialization

The focus of a business, region, or individual on producing a limited range of goods or services to gain greater efficiency and productivity.

Eighteenth-Century

A period in history ranging from the year 1701 to 1800, characterized by significant developments in politics, philosophy, science, and arts.

Pin Factory

A classic example used by Adam Smith to describe the benefits of specialization and division of labor.