Carter Electronics Began Selling the First-Ever 18" Home Digital Satellite

question 2

Multiple Choice

Carter Electronics began selling the first-ever 18" home digital satellite system (DSS) in the U.S. Although DSS represented a totally new technology, one million DSS units were sold in the first year of release. Which of the following best describes the market situation in the U.S. when the company researched DSS?

• A) There was an existing market for home digital satellite systems.
• B) There was an incipient market for home digital satellite systems.
• C) There was a latent market for home digital satellite systems.
• D) There was a subnational market for home digital satellite systems.

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Definitions:

Income Falls

A scenario where an individual or household experiences a reduction in their earnings from wages, investments, or other sources.

Equilibrium Price

The selling price where the amount of products supplied equals the amount of products demanded.

Equilibrium Quantity

The amount of goods or services supplied is exactly equal to the amount of goods or services demanded at a given price.

Quantity Demanded

The overall volume of a good or service that consumers intend and can afford to buy within a specific period at a particular price.