Isn’t it all about quality of goods and services ? Say finding good models of the finest of products is nearly difficult for a lower price.
Because demand is now directly proportionate to cost , quality is reciprocal of demand . Basically if there is demand then cost goes up and also quality may go down. But cost also goes up if good quality is aspired. Is this contradicting ?
4 thoughts on “59: Cost and Quality”
Interesting post. In chemical engineering, quality Is often achieved by two common techniques – recycle and purge. In most cases, both are needed. Recycle is reprocessing some of the product and purge is discarding some of the material. In both cases cost goes up as the quality goes up – in one case thru increased energy expenditure and in another case thru increased cost of materials.
In most natural processes, this relation is nonlinear. Quality increases with increased cost initially but the returns are diminishing.
I find this applies to many other things. For example, to write a high quality article, you have expend more energy, recycle and refine some ideas and throw away some. After a point, however, more energy won’t increase quality.
So what quality is acceptable? How much energy should you put in? I’ll share with you someday about how we engineer for and how to come up with “specifications”
Didn’t know quality diminishes after awhile, some thing to watch for. Talking about my writing, I take breaks to improve my quality so with time quality goes up ? Lol.
Cool. How about a post on how you blog? How you get ideas to how to put them on paper to how it’s published and how you feel about comments and feedback. Love to know all about it
Sure that’s my next topic.