HOW can we discern the quality of a good, without measuring it in an objective manner? As consumers, we go to a store, look for a product, find competing products, and make a quick subjective judgement about the quality, and buy the one our budget allows. While the price of a product always matters in our decision, the quality too figures if competing goods are available. Sometimes we do not buy a high-quality product because it is too expensive, and are content with low-quality but affordable substitutes. What if a better-quality product is available at the same price as that of a low-quality good? We simply ditch the low-quality product. Frequently, we compare the quality of a product to that of competing domestic and imported goods. In this way, we compare the quality of goods which foreign countries have exported to our domestic market.
Meanwhile, we need to be abroad and buy (or review) something made in our country to assess its quality.
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