Final answer:
Quality in business usually encompasses perfection, consistency, and elimination of waste, but not speed of delivery. Speed of delivery relates more to customer satisfaction and operational efficiency than to the inherent quality of a product or service.
Step-by-step explanation:
The concept of quality as defined in business and production contexts typically includes a range of characteristics such as perfection, consistency, and the elimination of waste. These elements are aimed at ensuring products or services meet a certain standard and fulfill customer expectations. However, speed of delivery is not typically defined as an element of quality itself, but rather as a component of overall customer satisfaction and operational efficiency. Quality in the context of production and business has a broader meaning that relates to the inherent characteristics of a product or service, rather than the rapidity with which it is delivered.
Reflecting on societal implications, the decreased need for income to satisfy basic needs and enjoy a quality life through a reduction of low-quality goods could lead to more time spent on life-enhancing activities such as community, family, and nature, increasing overall well-being while maintaining technology standards.