What is quality, and how does it differ from value?

Question

What is quality, and how does it differ from value?

Answer 1

Some people equate quality with "goodness".  But "good" is not measurable.  So think of quality as the ability for some item to fulfill its mission.  Like if the hinge in your car door doesn't always do its job, it is not considered high quality, no matter how "good " it is.

Value is simply quality / price.  Look at the ability for some item to do a job, and divide that by how much it costs to obtain that item.  For instance, if all you had to do was water a plant in your back yard, a watering can would be a much better value than a sophisticated irrigation system.

Answer 2

Quality is a measure of how good something is. But remember that while a Rolls Royce is a car of very high quality. It will last perhaps 30 years. For 1/10 of the cost you can buy a Chevrolet Impala which will last about 10 years and thus it is a better value. As both do the same job but three Impala's are a better value as they will do the job for a lot less money.