Equivalent quality price and linear quality measurement scale
Abstract
With the introduction of the quality variable into the theory of consumer demand, the question of its measurement becomes acute. The concept of measurement has been known since the beginning of commodity exchange, based on an implicit scale of quantitative values. The article proposes a methodology for price measurement and quality assessment. Measuring quality is an essential component of economic activity, which is of particular relevance in the new theory of demand. The term “quality price measurement scale” is very relevant for understanding both the measurement term and establishing a specific quality price, quantity price and quantity quality. The concept of the term “equivalent quality price” is defined, which is a price expression of the cost of the producer and buyer of one unit of goods. A “quality price scale” is introduced, revealing the economic nature of the equivalent quality price and the rules of addition in the measurements of quantity and quality. Quality price and quality are proportionally dependent. With the definition of the relationships between price, quality and quantity, the concept of measure is expanded by introducing price into it. We represent the measure as intervals and boundaries of price and quality, which are defined as the suitability of the product for consumption.
About the Author
G. N. Ismagilova
Kazan (Volga Region) Federal University
Russian Federation
Russian Federation
G.N. Ismagilova, PhD in Economics, Associate Professor.
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Review
For citations:
Ismagilova G.N. Equivalent quality price and linear quality measurement scale. Kazan economic vestnik. 2024;1(3):5-13. (In Russ.)
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