Smith Technology Systems Corp. Is an Example of

question 20

Multiple Choice

Smith Technology Systems Corp. is an example of

• A)a laggard.
• B)an innovator.
• C)the early majority.
• D)an early adopter.
• E)the late majority.

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Definitions:

Bowed Inward

Describing a curve, specifically in the context of an economics graph, that concaves towards the origin, indicating increasing returns or efficiency.

Upward Sloping

refers to a graph line that shows an increase in one variable as another variable increases, commonly seen in supply curves.

Budget Constraint

An economic model that represents all the combinations of goods and services a consumer can afford given their income and prices.

Opportunity Cost

The value of the best alternative forgone as a result of choosing a particular action or decision.