Quality measured with reference to price is captured by the notion of:
A) conformance to specifications.
B) value.
C) fitness for use.
D) psychological impressions.

Question

Quizplus · Accepted Answer

Quality measured with reference to price is captured by the notion of value. Value is determined by the balance between the price paid and the benefits received. It takes into consideration the quality of the product/service and whether the price is reasonable for what is being offered.

Quality Measured with Reference to Price Is Captured by the Notion