Charles Was the Last Person on His Block to Purchase

question 77

Multiple Choice

Charles was the last person on his block to purchase a color television set, and that was in the 1980s. He just couldn't see the reason to purchase a new color television if his old one was working just fine. He finally purchased one because his old TV stopped working. In terms of adopter categories, Charles would be classified as a(n) _____.

• A) innovator
• B) early adopter
• C) early majority
• D) late majority
• E) laggard

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Definitions:

Discount Sources

Financial operations or entities that offer reduced pricing or rates usually below the standard cost, often for promotional or clearance purposes.

Duopolists

Two firms that dominate a particular market or industry, competing directly with each other.

McDonald's Franchise

A business agreement allowing individuals to open and operate a McDonald's restaurant, utilizing the company's branding, procedures, and resources in exchange for fees and adherence to corporate policies.

Demand for Hamburgers

The quantity of hamburgers that consumers are willing and able to purchase at various prices, within a specific time frame.