Unit 2- Fashion Merchandising

Which aspect of global trade refers to a country's purchasing power, standard of living, and relative cost of doing business?

• Balance of trade

• Comparative advantage

• Economic climate

• Globalization

The use of foreign workers in one or more countries to complete the manufacturing steps of goods that carry a producer's label is which type of action?

• counterfeiting

• fashion industrialization

• offshore production

• protectionism

In which cities are the major fashion centers for the United States located?

• Dallas, Los Angeles, and New York

• Raleigh, Miami, and Charleston

• San Francisco, Atlanta, and Chicago

• Winston-Salem, Burlington, and Dallas

To monitor the sometimes weak trade within the fashion industry due to apparel being made cheaper in other countries, some countries rely on:

• market disruption

• protectionism

• trade balance

• free trade

TOMS shoes are only available through the company's e-tailing store and a few brick and mortar stores. Which distribution strategy is it using?

• exclusive

• intenive

• regulated

• selective

Colombia has the ability to produce apparel goods better than many other countries. This ability is known as:

• Trade Surplus
• Comparative Advantage
• Sweatshops
• Manufacturing Facility

HanesBrands undershirts can be found in stores such as Target, JCPenny, Macy's, and Wal-Mart department stores. Which distribution strategy are they using?

• exclusive

• industrial

• intensive

• selective

Which is an example of a manager of a retail store using internal data for merchandise planning?

• Reviews past sales records to see what merchandise sold the best

• Calls vendors to get product information

• uses information from trade associations for merchandise planning

• hires resident buying to assist with merchandise planning

Which of the following is NOT a role of a retail buyer?

• Accurately forecast what merchandise will appeal to their customers
• Selecting and purchasing goods for their companies
• Estimate future demand for merchandise
• Advertise new products the store has in stock

If the United States levies taxes on goods coming into it, which taxes are charged?

• delivery fees

• exemptions

• quotas

• tariffs