| A | B |
|---|
| Standards | Statements that specify a product's size, content, and/or quality |
| Grades | Ratings that tell to what extent the standards are met |
| Providing uniform, consistent products | A way that grades and standards help consumers |
| Indicates where the product will be sold | A way that grades and standards help businesses |
| Justifying price | A way that grades and standards help salespeople |
| International Trade | Importance of grades and standards increases and it increases |
| Government agencies | Responsible for setting standards for over-the-counter medicines |
| Government inspectors | Often responsible for scoring products to determine grades |
| Trade associations and professional organizations | Their goal is to guarantee product quality, safety, and uniformity. |
| Businesses | They gather information from their own department, suppliers, and consumers in order to set standards. |
| Quantity standards | Specify the amount of work to be done |
| Quantity standards | Indicate the degree of excellence to be expected from a good or service |
| Time standards | Monitor how long it takes to complete an activity |
| Cost standards | Specify how much a product or project costs |
| Grading | An optional activity that is an accepted business practice |
| Prime | An example of one of its grades |
| Milk | Graded for bacteria count, appearance, odor, and taste |
| Fish | Its grade stamp indicates that it's been accurately labeled |
| Oil | Graded on the basis of its thickness |
| Gasoline | Graded on how well it will operate in certain engines |
| Coal | Graded on carbon and sulphur contents |
| Lumber | Graded on appearance and weight it can support |
