Overview
Innovation diffusion is a critical process that shapes how new ideas and technologies spread throughout society. Understanding this process helps us grasp the factors that influence adoption rates and the overall impact on economic growth. By analyzing the adoption curve and the role of social influ...
Key Terms
Example: The smartphone is a significant innovation in communication technology.
Example: The diffusion of the internet has transformed how we access information.
Example: The adoption curve for electric cars shows a slow start but rapid growth in recent years.
Example: Tech enthusiasts are often early adopters of new gadgets.
Example: The market penetration of smartphones has reached over 80% in many countries.
Example: Sustainable farming practices help preserve the environment.