ratio of __________to price is referred to as value.
A) prestige value
B) perceived benefits
C) costs
D) perceived quality
E) profits

Question

Quizplus · Accepted Answer

Value refers to the ratio of perceived benefits to price, as in how much benefit a consumer perceives they are receiving in proportion to the amount they paid. Prestige value, perceived quality, and profits are related but different concepts. Costs are not directly related to value, as they refer to the expenses incurred in producing a product rather than the perceived benefit to the consumer.

Ratio of __________To Price Is Referred to as Value