The Key Idea Behind Diffusion of Innovation Is That

question 43

Multiple Choice

The key idea behind diffusion of innovation is that

• A) not all consumers accept a new product at the same time; adoption of a product spreads slowly throughout the population.
• B) once a product enters the market, the time span between awareness and purchase is incredibly short.
• C) the introduction of an entire new product class almost always diffuses the importance of its predecessor within a matter of months.
• D) adoption of a new product line does not change the diffusion rate of older lines in the market.
• E) the rate of adoption is independent of other product form innovations or competitive products in the marketplace.

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Definitions:

Natural Resources

Raw materials or substances occurring in nature that can be used for economic gain, such as minerals, forests, and water.

Industrial Economy

An economy characterized by a significant weight of manufacturing, infrastructure, and services related to the processing and production of goods.

Low Productivity

A state where there is a lower output per unit of input, which may lead to decreased economic performance.

Education

The systematic process of facilitating learning, acquisition of knowledge, skills, values, beliefs, and habits.