economics
land
Natural resources used to produce goods and services.
exchange rate
An exchange rate is the value of one country's currency compared to another's. It’s important because it affects the cost of importing and exporting goods between countries.
FLSA
The Fair Labor Standards Act (FLSA) is a U.S. law that sets minimum wage, overtime pay, recordkeeping, and youth employment standards.
purpose of high heels
Initially, high heels were worn by men, specifically Persian soldiers, to help them stay in the stirrups while riding
Planning
Analyzing past sales, trends, and customer needs to make buying decisions.
labor
Human effort used in production.
tariff
a tax placed on imported goods to protect domestic industries or generate revenue.
FTC
The Federal Trade Commission (FTC) regulates advertising, consumer protection, and prevents deceptive business practices.
environmental impact
The fashion industry is a major consumer of water and resources
buying
Choosing products, vendors, and quantities based on the plan.
capital
Tools, equipment, and factories used in production.
quota
A quota is a limit on the amount of a specific product that can be imported into a country.
Corporate Social Responsibility.
Corporate Social Responsibility (CSR) is a company’s commitment to operate ethically, support community development, and protect the environment.
first fashion magazine
The first fashion magazine was sold in Germany in 1586.
Selling/Monitoring
Tracking sales performance and adjusting orders or promotions accordingly.
Entrepreneurship.
–The drive to develop new ideas and take risks to create businesses
Copyright
A copyright is a legal protection for original works like designs, music, or writing, giving the creator exclusive rights to use and reproduce the work.
a country’s culture
Understanding a country's culture helps businesses market products appropriately, communicate effectively, and avoid offending local customs or values.
Jean pockets
The small pocket inside one of the front pockets on jeans was originally for pocket watches.
Forecasting demand
Predicting what customers will want and how much they’ll buy
Balance of trade
the term used to describe the relationship between the value of a country’s imports and exports
Sweatshop
Poor working conditions, Long hours, Low pay, Unsafe environment, Often involves child labor or exploitation
Merchandise planning
Merchandise Planning is the process of selecting, buying, and managing inventory to meet customer demand while maximizing profits. It helps ensure the right products are available at the right time.
who was the inventor of the mini skirt
Mary Quant
Inventory control
Balancing how much stock to order and when, to avoid excess or shortages.