Define or Explain the Terms Sensation,perception,and Adaptation

question 117

Essay

Define or explain the terms sensation,perception,and adaptation.Explain specifically how sensation and perception differ.

Comprehend why firms might give away products for free to leverage network externalities.

Analyze the decision-making process of consumers regarding the adoption of goods with network externalities.

Understand how market share and pricing strategies are interrelated in markets with network externalities.

Assess factors contributing to or detracting from profits in component-based industries like personal computing.

---

Definitions:

Drawer

In banking and finance, the person who writes or issues a check or draft, instructing the bank to pay a specified amount to the person or entity named.

Contractual Capacity

The legal ability to enter into a binding contract, typically requiring parties to be of a certain age and sound mind.

Negotiation

The process whereby two or more parties discuss and attempt to reach a mutual agreement on matters of common interest.

Forgery

The act of falsely making or altering a document with the intent to deceive or defraud.