What is the relationship between price and quality?
When the prices of goods increase,people have to spend more money to buy them and thus have less money to do othr entaertainment thus their material life will be worse.Material life is one of the aspect affects our quality of life so the changes of price actually has a close relationship with quality of life.
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Safety and quality performance are interlinked as they are indirect measures of the attention to detail. A business with a high rate of safety incidents is unlikely to be cons…istently producing high quality goods or services. Quality basically is to ensure we can meet the specification within tolerable limit. Safety is quite the same. They share the same approach in analysis and "fault" finding as well as improvement. Both safety and quality indicator basically shows your management capability and commitment into meeting specs and manages risks. ps: risk = anything that can produce loss, it can be loss of product value or loss of life/worktime.
what is relationship between bond price and yield?
The relationship between price and quantity demanded is known as the demand relationship. A. The Law of Demand The law of demand states that, if all other factors remain …equal, the higher the price of a good, the less people will demand that good. In other words, the higher the price, the lower the quantity demanded. The amount of a good that buyers purchase at a higher price is less because as the price of a good goes up, so does the opportunity cost of buying that good. As a result, people will naturally avoid buying a product that will force them to forgo the consumption of something else they value more. The chart below shows that the curve is a downward slope.
The price is higher if the speed is slower. The price is higher if the speed is slower
More xcommonly known as " The Law of Supply and Demand ."
Mostly prices get higher when the quantity supplied is less, because if more people are willing to buy a smaller quantity, people are willing to pay more than when there's a l…arge quantity of a product. Also remember the economic rule of Demand creates supply. Thus Demand (A high price) would create a large quantity of a certain item because of the ability to sell one's goods for a high price.
if the supply is low and the demand is high, then the price of the good will be high. if there is high supply but low demand, then the price will be low. the price of a good o…r service is determined by the relationship between supply and demand. look for any basic macro or micro economics books and it should give you a very good explanation on the subject also pay attention to the graphs of supply and demand and you will get a better understanding of the relationship between supply and demand.
Example: When you have a high quality raw material, you may have a low defect/reject. This may lead you to have high productivity. Productivity = Output / Input. Raw materi…al is an input which can be transformed into a product (output). By the formula of Productivity, high quality of input (use small amount, less defect or reject) may lead to have high output and result on high productivity.
Higher quality goods take more time and labour and higher quality raw materials to produce, so a drive to greater productivity almost always means a diminution of quality. An …exception is in cases where standardization and precision mean a significant increase of quality, as in machine parts, which can be made more standard and more precise by machine, which is also more efficient.
They have an inverse (negative) relationship.
The relationship between quality and the product is important as the quality of a product is what sales the product. Quality means a lot to me, I will pay for good quality pro…ducts and also food.
In Similarities Between
If something is in high demand but there is a limited supply of it then the price goes up. Kinda of like the price of gasoline. There isn't a limited supply and alot alot of p…eople need it for their cars and other things etc so it drives the price. If there isn't a high demand for it then the price is generally reasonable. They are inversely related. Directly related is supply and demand.
A perfectly efficient set of markets will allow only very short violations of the law of one price. A convenient econometric way of analyzing the nature of the law of one pric…e as an "attractor equilibrium" is a so-called error correction model.
If all other factors remain the same, as price of a good goes up, demand will go down.
Obviously , something that has no quality , would have no safety. Why do you think people buy branded goods? Just because they know that they can trust that brand , and itspro…ducts will cause no harm to them! When we talk about safety products then quality is obvious factorin safety. If we have quality safety products then they work longlasting and give security from any type of harm. Only then we cansure about our safety. Falmit is also one of the top companies inSouth Africa which deliver best quality safety products throughoutthe world.
In a law of demand there is an inverse relationship between the price and quality demanded. True or False?