Which of the Four Major Categories of Quality Costs Is

question 113

Multiple Choice

Which of the four major categories of quality costs is particularly hard to quantify?

• A) prevention costs
• B) appraisal costs
• C) internal failure costs
• D) external failure costs
• E) None are hard to quantify.

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Definitions:

Inelastic Demand

A situation in which the demand for a product does not change significantly when the price of the product changes.

Elastic Demand

A situation in which the demand for a product is sensitive to price changes, meaning a small price change can cause a large change in quantity demanded.

Airline Prices

The cost of air travel tickets, influenced by factors such as fuel prices, demand, seasonality, and market competition.

Price-Inelastic

Describes a situation where the demand for a good or service changes little in response to changes in price.