After purchasing a bushel of 'C' grade apples for $10,which were on sale,you get home and realize that they are of excellent quality,and should have been graded 'B+' apples instead.You feel you received great benefits in comparison to the price you paid.This ratio is called:
A)the price-quality relationship.
B)prestige pricing.
C)value-added pricing.
D)value.

Question

Quizplus · Accepted Answer

The term "value" refers to the perceived benefits received in relation to the price paid. In this scenario, the excellent quality of the apples compared to the low price paid represents a high value.

After Purchasing a Bushel of 'C' Grade Apples for $10,which