Question

Quality that measures usefulness vs. price paid is which definition of quality? A. Conformance to specifications B. Fitness for use C. Value for price paid D. Support services E. Psychological

Answer 1

Answer:

Option C. Value for price paid

Explanation:

The quality of goods are measured with the usefulness of the goods to the consumer and how much he is willing to pay for it and the product is determined by the state of  how much it is being useful, profitable, or beneficial to the consumer. Consumers pay higher amount for the product which has the higher utility for the consumer and it also shows the quality of the specific product to the consumer. The main determinants of the product's quality are its price and its utility. Value of price paid is determined by the utility or usefulness of the product for each unit of money paid to purchase it.