Nancy Is a Professional Photographer and Has Been Looking to Buy

question 24

Multiple Choice

Nancy is a professional photographer and has been looking to buy a new digital camera that improves picture quality.After extensive research about a new camera that was released in the market two weeks ago, she decides to buy it because she is convinced that it will produce the picture quality she has been looking for.This shows that Nancy belongs to the group of:

• A)late majority buyers.
• B)early adopters.
• C)innovators.
• D)early majority buyers.
• E)laggards.

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Definitions:

Highest Valued Uses

The application of resources or efforts in the manner that yields the greatest benefit or utility.

Increased Demand

Refers to a situation where there's a higher desire or need for a particular product or service, often leading to higher prices if supply does not match the surge.

Price Ceiling

A legally established maximum price that can be charged for a good or service.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to buy at a specific price.