The Velocity of Money Is the __________ Number of Times

question 44

Multiple Choice

The velocity of money is the __________ number of times a dollar is spent to buy final goods and services in a year.

• A) total
• B) average
• C) marginal
• D) statistical

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Definitions:

Discontinuous Innovation

A breakthrough product or service that significantly changes the market or how consumers interact with a market.

Categories Of Adopters

Categories of adopters refer to the classification of individuals within a market divided by how soon they adopt a new product or innovation, often outlined as innovators, early adopters, early majority, late majority, and laggards.

Laggards

In the context of marketing and innovation, individuals who are the last to adopt new products or technologies, often resistant to change.

Late Majority

A group in the diffusion of innovation theory, representing consumers who adopt new products or technologies after the average member of society, often motivated by a desire to maintain the status quo.