Fashion Merch Midterm

At which stage of the fashion cycle are styles considered completely undesirable?

• Decline

• Obsolescence

• Peak

• Rise

How often do fashion trends seem to recur?

• 10-20yrs

• 20-30yrs

• 30-40yrs

• 5-20yrs

Reversals or abrupt changes in fashion styles are a result of which response to fashion?

• Fashion Extremes

• Flops

• Fashion Evolutionary

• Fads

Which of the following characteristics of The Free Market System is inaccurate?

• Governments make the key economic decisions.

• People freely choose how to spend their money.

• You can charge and sell to anyone willing to pay that price

• The U.S. Economy operates as a free market system

The leftover money after expenses and taxes have been deducted is known as the:

• Profit

• Revenue

• Income

• Sales

You purchase a lollipop from Target for your grandfather. In this scenario, Target's role is the:

• Producer

• Service

• Manufactuer

• Retailer

You purchase a lollipop from Target for your grandfather. In this scenario, the lollipop's role is the:

• Good

• Service

• Consumer

• Candy

You purchase a lollipop from Target for your grandfather. In this scenario, your grandfather's role is the:

• Consumer

• Customer

• Buyer

• Manufacturer

You purchase a lollipop from Target for your grandfather. In this scenario, your role is the:

• Consumer

• Customer

• Buyer

• End-user

The ideal competitive market structure that has similar products sold is known as:

• Pure Competition

• Increased Competition

• The Free Market System

• Oligopoly