Consumers Consider Five Aspects When Defining Quality

question 82

Multiple Choice

Consumers consider five aspects when defining quality. Which one of the following is least likely to be one of these aspects?

• A) value
• B) fitness for use
• C) psychological impressions
• D) individual development

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Definitions:

Expenditures

The total amount of money spent by individuals, businesses, or governments on goods and services.

GDP

Gross Domestic Product, a measure of the economic performance of a country, calculated as the total value of all goods and services produced within the country in a specific time period.

Unfunded Promises

Commitments or obligations, especially by a government, for which no money has been set aside to fulfill them.

Economic Theory

A set of principles and frameworks that aim to explain and predict the behaviors of individuals, firms, and governments in an economy.