The price at which people pay for a certain commodity or good would depend on the overall quality of products offered in the market today. This can range from basic needs to lofty paraphernalia that most people feel to be more of a vice rather than a need. Based on the belief using Maslow’s Hierarchy of Needs, people have changed to total viewpoint when it comes to detailing what the important needs of survival are today.

Here is a video that was compiled in an Operations Management Class. It stresses the importance and value of the cost of quality stemming from the natural resources that companies should initially put in.

[tags]maslows_hierarchy_of_needs, hierarchy_of_needs, operations_management, cost_of_quality, paraphernalia, natural_resources, survival[/tags]

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