The Concept of the Diffusion of Innovation Shows How a Product

question 373

Multiple Choice

The concept of the diffusion of innovation shows how a product "diffuses" or spreads through the population over time.The consumer population is divided into five categories of product adopters based on when they adopt (i.e. ,first buy) a new product.Each product adopter category has a unique profile.Consumers who are skeptical and with below average social status are called __________ product adopters.

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

Recognize the role of heredity and environment in shaping intelligence.

Understand the shift from behaviorism to cognitive psychology and its implications for studying mental processes.

Understand the development and focus areas of different psychological schools of thought from the late 19th to the 21st century.

Recognize the contributions and challenges faced by pioneering women and minorities in psychology.

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Definitions:

Monthly Production Volume

The quantity of goods or products manufactured or produced in a factory or plant over the course of a month.

Fixed Manufacturing Cost

Expenses that do not change with the level of production, such as rent, salaries, and insurance, required to operate a manufacturing facility.

Mixed Cost

A cost that contains both variable and fixed cost elements; it changes with the level of activity but not in direct proportion.

Least-squares Regression

A statistical method used to determine the line of best fit by minimizing the squares of the differences between observed and predicted values.