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:

C. Value for price paid

Explanation:

The quality of goods are measured with the usefullness of the goods to the consumer and how much he is willing is pay for the product is etermined by the utility of goods to the consumer. Higher amount is paid for the goods, which has higher utility to the consumer and it also define quality to the consumer. Price and utility of product remain the main determinant for the quality.

Value of price paid is determined by utility or usefulness of the product for each dollar paid to buy it.