Who Among the Following Adopters of a New Technology Are

question 86

Multiple Choice

Who among the following adopters of a new technology are extremely suspicious of innovation and change?

• A)laggards
• B)early adopters
• C)innovators
• D)the early majority
• E)the early minority

Apply mathematical skills to solve problems related to budget constraints and purchasing power.

Analyze the impact of price changes on consumer choices and budget allocation.

Understand the principle of opportunity cost through trade-offs in consumption choices.

Apply principles of microeconomics to practical scenarios involving budget constraints and choices.

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Definitions:

Good Y

A generic term used in economic models to represent a particular product or service in the market.

Production Possibility Frontier

A curve depicting all maximum output possibilities for two goods, given a set amount of inputs, highlighting concepts of opportunity cost, efficiency, and trade-offs.

Idle Resources

Resources in an economy that are not being fully utilized, often leading to inefficiency.

Output

The total amount of goods and services produced by an economy or a production process.