Answer:
3. Laggards
Explanation:
Laggards are the last step of the new product development stage. In this laggard means Marketing laggards that constitute a group of customers who resist improvement and may not be prepared to accept a new product till all conventional alternatives are no longer accessible
In the given situation, the laggards i.e option 3 is fitted to the given scenario
Hence, the third option is correct
Answer: Option (a) is correct.
Explanation:
Tastes and preferences are the determinants of demand. Any change in the tastes and preferences will lead to shift the demand curve of a market. Therefore, an increase in the tastes for apples means that demand is favorable for the apple market, as a result demand curve shifts rightwards.
Hence, both equilibrium price and equilibrium quantity in the market for apples increases.
Answer:
B - Maximum combinations of goods and services an economy can produce given its available resources and technology
Explanation:
The production possibilities curve shows all possible combinations of goods and services an economy can produce given its available resources and technology.
The production possibilities curve shows the economy's potential. Any point outside the PPC represents an unattainable combination as that level of production is not possible in the economy with the current technology and a point inside the PPC represents inefficient utilization of resources.
