Fashion DLD

what does trade involve? (3 answers)

• Tariffs

• Imports

• Exports

• Exchange of money

The U.S. consumers more _________ than any other country in the world

• Food

• Gold

• Oil

• soft goods

U.S.imports ____% of textile and apparel goods

• 10

• 45

• 70

• 60

_________ and ________ provide and largest amount of imported soft goods to the U.S.

• China and Mexico

• India and China

• Mexico and India

• India and Africa

A country imports more than it exports

• Balance of trade

• Trade surplus

• Tariff

• Trade deficit

The economics of clothing involve three processes:

• Production

• Discard

• Distribution

• Consumption

What are the four basic economic resources?

• Land

• Labor

• Capital

• Liberty

• Entrepreneurship

In the united states alone, consumers spent nearly $____ billion on apparel and footwear in 2023

• 100

• 50

• 360

• 260

The industry employs more than ____ million people in the united states

• 1

• 1.5

• 2

• 1.8

The things we buy everyday create the __________ that keeps companies profitable and hiring new workers

• supply

• stores

• demand

• businesses