Quality Is

question 69

Multiple Choice

Quality is:

• A) meeting or exceeding customer expectations in the goods and/or services offered.
• B) only a major factor in the production of luxury goods, such as BMW cars.
• C) an assured way to gain competitive advantage.
• D) a viable trade-off with product cost in gaining a competitive advantage.

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Definitions:

APS (Average Propensity to Save)

The fraction of total income that is saved by the average household.

Disposable Income

The amount of money an individual or household has to spend or save after income taxes have been deducted.

Saving

The act of setting aside money for future use rather than spending it immediately.

Disposable Income

The available financial amount for households to use in saving or spending after accounting for income tax.