Which of the Following Statements Regarding Price and Quality Is

question 82

Multiple Choice

Which of the following statements regarding price and quality is supported by research?

• A) The higher the price, the greater the sales volume.
• B) Consumers' perception of product quality is related closely to the item's price.
• C) Perception of quality has no relationship to price.
• D) Quality and price always go hand-in-hand.

---

Definitions:

Sale of Goods Transaction

A commercial activity involving the transfer of ownership of tangible personal property from a seller to a buyer for a price.

Bill of Exchange

A written, unconditional order by one party directing another party to pay a specified sum of money to a third party at a specified time.

Pay Money

The act of giving a certain amount of currency or financial value in exchange for goods or services.

Third Person

An individual who is not directly involved in a contract or legal agreement but may be affected by it.