________ Refers to the Degree to Which a Product or Process

question 80

Multiple Choice

________ refers to the degree to which a product or process meets reasonable or agreed-upon expectations.

• A) Quality
• B) Standard
• C) Scalability
• D) Capacity
• E) Serviceability

---

Definitions:

Snob Effect

A phenomenon where the demand for a certain good increases as it becomes more exclusive or perceived as being more prestigious, contrary to the typical behavior predicted by the law of demand.

Elite

Elite refers to the group of people considered to be the best or most skilled in a society, or those holding the most power, wealth, or influence.

Parody Display

A form of expression that humorously imitates or exaggerates characteristics of a particular style, work, or situation for comedic effect or critical commentary.

Prestige-Exclusivity

A marketing strategy that highlights the unique status and high social standing associated with owning or using a product or service.