What Is Quality? List and Define Three Characteristics of Quality

question 30

Essay

What is quality? List and define three characteristics of quality for goods and for services. Explain why these characteristics are different for goods and services. Then identify the one dimension that is common in both lists. Finally, specify a good or service that you were very dissatisfied with during the past year, and explain which of these quality dimensions the good or service was deficient on.

Grasp the principles of cost functions in interconnected businesses and how they influence production decisions.

Comprehend the role of legislation and public policy in maximizing social welfare and individual utility.

Understand the effects of monopolistic control vs. competitive dynamics on industry output and profit.

Analyze the strategic interactions between firms in a competitive industry through mathematical modeling.

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Definitions:

Mission Statement

A written declaration of an organization's core purpose and focus that normally remains unchanged over time.

Existence

The state or fact of being real, present, or alive.

Strategic Plans

Those plans that establish the long-range objectives and overall strategy or course of action by which a firm fulfills its mission.