The Ability of a Product or Service to Meet Customers

question 5

Multiple Choice

The ability of a product or service to meet customers' expectations is called _______________?

• A) Flexibility
• B) Quality
• C) Value
• D) Dependability

---

Definitions:

Wages

Payments made to employees, typically calculated on an hourly, daily, or piecework basis, for labor or services provided.

Finished Goods

Products that are completed and ready to be sold.

Cost Of Goods Manufactured

The total cost incurred by a company to produce goods in a specific period, including materials, labor, and overhead.

Variable Costs

Expenses that vary directly with the level of production or service activity, such as raw materials and direct labor costs.