Attributes Are Those Quality Characteristics That Are Classified as Either

question 59

True/False

Attributes are those quality characteristics that are classified as either conforming or not conforming to specification.

---

Definitions:

Supply

The total amount of a good or service available for purchase at any given price level in a market.

Inelastic Demand

A situation where the quantity demanded of a good or service changes very little when its price changes.

Luxury

Goods or services that are considered superior in quality and are often expensive, catering to a more affluent consumer base.

Necessity

A good or service that is considered essential for survival, such as food, shelter, and healthcare.