Laggards Are the Last to Adopt a New Product and Usually

question 84

True/False

Laggards are the last to adopt a new product and usually distrust new products.

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Definitions:

Price Controls

Legal restrictions on how high or low a market price may go.

Binding Price Ceiling

A government-imposed limit on the price of a good or service that is below the market equilibrium price, leading to shortages.

Hybrid Cars

Vehicles powered by a combination of an internal combustion engine and one or more electric motors, using less fuel and emitting fewer pollutants than traditional cars.

Rent Controls

Government-imposed limitations on the amount landlords can charge for leasing a property.