Do we get what we pay for?
If it were a perfect world, high prices would translate into high quality. But in reality, the two do not necessarily go hand in hand.
There are countless examples of higher-priced products not having more quality than their cheaper competitors. One area where consumers often find this contrary price/quality relationship is in the prescription drug market.
The drug commercials we see on TV would have us believe that their brand-name drug is superior, but the FDA (Food and Drug Administration) says this isn’t so.
The FDA requires generic drugs to meet the same safety standards as their name-brand counterparts. Generic drug makers can charge less because they haven’t had to spend as much in developing the product. But let's not forget some this higher cost can be attributed also to advertising and packaging.
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