Quality of goods and services Flashcards
1
Q
What is quality assurance?
A
The process of managing the quality of a product where quality checks take place at several stages during production.
2
Q
How is profit important in quality.
A
Price is often used as an indicator of quality. Generally, customers who are willing to pay more for a product will expect the quality of it to be higher. Some customers will be willing to accept a lower quality product if it is cheaper.
3
Q
What is market share?
A
The percentage of a market taken by a particular business or product.
