Questions and Answers
Meeting the basic need for clothing means ______________________.
providing adequate physical comfort and protection
Basic apparel has a short lifestyle.
False
Product obsolescence refers to ________________________.
discard of products because of a consumer's lack of interest in them (rather than fundamental usability)
Expenditure for superior goods ______________.
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What is the major drive in the global apparel industry?
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Discretionary income is __________________.
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Complete the sentences: The major appeal of a basic good is _____________, while the major appeal of fashion goods is _____________________.
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Purchased secondhand clothing is classified in economic terms as _______________.
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Apparel consumption expenditure is affected by all but one of the following factors. Which one is not a factor?
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Fashion apparel is more common in men's wear than in women's wear.
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Study Notes
Basic Needs and Apparel
- Meeting the basic need for clothing ensures adequate physical comfort and protection for individuals.
Apparel Lifespan
- Basic apparel is characterized by a long lifespan, contrary to some misconceptions regarding its longevity.
Product Obsolescence
- Product obsolescence occurs when consumers discard products due to disinterest, not because the items are unusable.
Expenditure and Income
- Expenditures on superior goods increase as individuals' income rises, highlighting the relationship between income and spending habits.
Global Apparel Industry
- Consumer demand is the primary driving force behind the global apparel industry, influencing trends and production.
Discretionary Income
- Discretionary income refers to the portion of income that is not allocated to essential expenses, allowing for additional discretionary spending.
Appeals of Basic versus Fashion Goods
- The major appeal of basic goods lies in their price point, while fashion goods attract consumers primarily through their appearance and style.
Secondhand Clothing Classification
- Secondhand clothing is economically classified as inferior goods, indicating that they are often purchased by consumers with limited income.
Factors Affecting Apparel Consumption Expenditure
- Apparel consumption expenditure is influenced by various factors, including:
- Import duties and taxation of imported products.
- Taxes such as income, sales, and real estate.
- Market prices of related goods and services, like food and healthcare.
- The environmental impact of the apparel industry is not among the listed factors affecting consumption expenditure.
Fashion Apparel Trends
- Fashion apparel is more prevalent in women's wear compared to men's wear, challenging assumptions of gender distribution in fashion.
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Description
This quiz explores key concepts related to consumer behavior in the apparel industry. It covers topics such as basic needs, product obsolescence, and the dynamics between income and spending. Test your understanding of how these elements shape the global apparel market.
