Author Question: The demographic group that seeks out high quality products, prefers brand names, and remains loyal ... (Read 95 times)

itsmyluck · **on:** Sep 11, 2018

The demographic group that seeks out high quality products, prefers brand names, and remains loyal to favorite brands is

a. Caucasians c. African Americans
b. Hispanics d. Asians

Question 2

What economic concepts does the Production Possibilities Curve illustrate? Relate these to the fashion industry using two product categories or fashion resources.

What will be an ideal response?

Ptupou85 · **Reply #1 on:** Sep 11, 2018

Answer to Question 1

d

Answer to Question 2

The PPC or Production Possibilities curve illustrates the economic concepts of scarcity,
opportunity costs, trade-offs, resource allocation, and efficiency. If a fashion manufacturer
chooses to produce zipper and buttons it must decide how to allocate labor to the production of
these products. When more zippers are produced, more labor will be allocated to zippers using
less for the production of buttons, thus the opportunity cost of zippers will be the buttons lost as
the labor allocation shifts to zippers. As long as all labor is used the company is producing at an
efficient level.