Moore’s law has a direct impact on the prices of popular electronic consumer gadgets that come to market. Prices start high and gradually drop, as technology itself gets better or multiplies, whatever you want to call it. They have phrases for consumers who buy at different intervals of the price points.
For example, the first people to buy new gadgets are called the “innovators.” These are the people who are willing to stand in long lines and pay top dollar just to use the new product.
Next come the “early adopters” who wait before the price drops a little, then get in on the act. The next in line are the “early majority,” “late majority,” and the “laggards.” I’m a laggard myself. I’ll wait until a product reaches critical mass before I’ll hop on the bandwagon, knowing the newer version of the product will deliver more bang for the buck.