The term "early adopters" refers to
A) consumers who respond quickly to fads, seasonal changes, etc.
B) consumers who are willing to pay high prices to be among the first to own new products.
C) firms that are the first to implement a new technology that is used to produce new goods or services.
D) book clubs that are first to recommend best-selling books to their members.
B
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The product approach to calculating GDP
A) adds together the market values of final goods and services produced by domestic and foreign-owned factors of production within the nation in some time period. B) includes the market value of goods and services produced by households for their own consumption but excludes the value of the underground economy. C) is superior to the income approach because, unlike the income approach, it gives us the real value of output. D) adds together the market values of final goods, intermediate goods, and goods added to inventories.
In the context of stock markets, "the tail wags the dog" means that the failure of the stock market can drag down the entire economy
a. True b. False Indicate whether the statement is true or false