Word: dots
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Printer quality refers to the quality of the characters on the page; the better the quality, the more readable the letters. Cheap printers use a small set of dots to make up each letter. The so-called dot matrix letters are more difficult to read than a typewriter's characters...
Recent advances in dot matrix technology allow for more dots to make up each character, therefore yielding a higher quality output. Some printers also improve the characters' aesthetics by printing over each letter more than once, thus blending the dots together...
...multi-pass dot matrix printers often produce what is known as near letter quality (NLQ) or correspondence quality. These are terms indicating how close the printer comes to "letter quality"--letter quality usually is defined as the quality of a typewriter...
...contrast, moderately priced dot matrix printers can print at 160 CPS (five pages per minute) in low quality (single pass) load, and about 80 CPS in NLQ mode...
Herein lies the real advantage of dot matrix printers. Drafts can be printed out quickly in a low quality mode and a final paper can be printed more slowly, but with a much better looking result...