In the Diffusion of Innovation Curve,the Late Majority Is the Final

question 24

True/False

In the diffusion of innovation curve,the late majority is the final group of buyers that like to avoid change and rely on traditional products until they are no longer available.

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Definitions:

Monopoly Position

A market situation in which a single company or entity has exclusive control over the production and sale of a particular good or service.

Declining Industry Argument

The rationale that certain industries are on a downturn due to factors like decreased demand or technological advancements, potentially justifying protectionist measures.

Market Share

The portion of a market controlled by a particular company or product, often expressed as a percentage of total sales in that market.

Trade Restrictions

Measures imposed by governments to regulate international trade, including tariffs, quotas, embargoes, and other forms of trade barriers, aimed at protecting domestic industries.