The aim of assignment one is to qualitatively explore the drivers of fashion clothing purchase behaviour.…
Answer the question on the basis of the following output data for a firm. Assume that the amounts of all non-labor resources are fixed.Refer to the above data. Diminishing marginal returns become evident with the addition of the:Answer…
10. The intersection of supply and demand will be at a lower equilibrium price but a higher equilibrium quantity if…
Globalization, which is best defined as the expansion of cultural, political, economical and ideological relationships regarding worldwide social exchange and interdependencies, is the underlying motif in Rachel Louise Snyder’s novel, Fugitive Denim (Conley 531). In this work, Snyder uses a theoretical pair of denim jeans to explore the workings of the global market, from the harvesting of the cotton used in making jeans to the fashion design behind the pants seen in stores around the world. Being the beneficiary of inexpensive goods, capitalist nations like the United States and much of the European Union neglect to realize their low-cost end products come about as a result of outsourcing to underdeveloped nations. While this outsourcing benefits the “overdeveloped” nations, it is often at the expense of the underdeveloped nations. In this process, Snyder explores a variety of interrelated social issues, specifically the relationships between inequality, corporations and gender and separately the issues of exploitation, capitalism and consumption.…
The film “True Cost” has definitely determined a lot of ethical issues regarding the reinvention of fashion. It has been determined as a continuously evolving matter, and the amount of consumption has said to have doubled through the decades. In the present world, fashion have become an essential part of a man’s life, for the reason that we communicate our personality through clothing. It serves as our personal connection with other people. And because of that, fashion is deemed to be a need in our society, without knowing the impact and consequences of our excessive consumption on clothing. With that, several issues regarding fashion have appeared in which questions the ethicality of the strategies made by the big companies in the first world…
Did you ever wonder what happens to the unwanted clothes you give away to charities? You probably thought they are sent to the needy - but how did they get there? When filmmaker Shantha Bloemen was stationed in a Zambian village, she noticed almost everyone in the village wore secondhand clothing from USA, from the elder decked out in a Chanel jacket to women in AC/DC T-shirts, to children sporting Adidas sneakers. She began to question if the original owners had any idea that the castoffs they had given to charities ended up being sold to Africans half a world away. She started to film this, investigating the secondhand clothes business and its effect on an increasingly globalised economy.…
As a whole, Pricing Beauty concentrates on unveiling certain “backstage” ambiguities and inequalities within the fashion industry regarding race, gender roles and performance, sexuality, class, and bodily autonomy in order to address the issues of systemic racism, sexism, and classism inherent in both the fashion industry and in society in general. Mears uses a lot of direct quotations from personal interviews, and her insider perspective to vivisect the underpinnings the industry. Her position as a model grants her additional access to the various players in the industry, and gives her more authority than if this study was conducted by an outside perspective.…
The following equation -- Beginning finished goods + cost of goods manufactured - ending finished goods -- is used to calculate cost of goods sold during the period.…
3. Suppose that if you buy one Big Mac that gives you marginal utility of 500 and a second Big Mac that gives you marginal utility of 200, total utility of buying (and eating) two Big Macs is:…
(Choose a garment, which can be used to discuss fashion from the point of view of the consumer. This garment must be able to demonstrate how the consumer individually constructs their identity and conveys that identity through the style and styling of clothing. You should treat this garment as an object as a form of evidence, which can help you to explain theories of fashion discussed in the sessions. The intention of your analysis is to examine the ways in which we can ‘read’ objects and images, understand their meanings and explain them in the context of broader theoretical and social concerns. You should aim to be as analytical as possible. You may want to use further objects or garments or examples within your presentation to help to explain your ideas though only 1 object should be your main focus. You can either use the actual object or use images and films to analyse and discuss your findings. Therefore your essay should be supported by ideas from readings and books as well as the objects and images themselves.)…
Kelsey Timmerman, the author of the book Where am I Wearing? takes the reader through a journey to different parts of the world to try to discover the origins of his favorite clothes. Timmerman’s objective is to bridge the gap between producer and consumer. This disconnect between producer and consumer has become greater do to the globalization of the different markets and in this case, the garment industry. Thus, Timmerman embarks on a quest to show the reader the human side of globalization. Timmerman felt that “the lives, personalities, hopes and dreams of the people who make our clothes were lost among the statistics.” (Timmerman 6)…
This essay reflects on the lecture titled Creative Economy by Martin Bouette. I found this lecture relevant to my final project. My topic is the changing trends in the apparel industry. How Corporate Social Responsibility affects the supply chain, going local from global, vertical from horizontal. The lecture is relevant in many aspects, for example the knowledge society's changes and ethical issues and responsibility within the apparel industry.…
“Dress as an expression of the pecuniary culture” (1899) expresses Thorstein Veblen’s view on the issue of the representation and abuse of dress in his society. Veblen tries to answer a very important question that, even over a century later, we still ask ourselves. Why do we spend more than we need to on clothes? Veblen views this phenomenon through an economic lens, which allows us to gain a different insight into the motive of dress. What makes Veblen an interesting read is how many of his claims surrounding this question ring true and remain applicable to this day and society. For instance, Veblen tries to explain why people participate in “wasteful consumption” (1899, P.339) using…
We as the consumer feel like we are benefiting because we are presented with tons of clothes for a cheaper price, but these clothes often will fall apart and won’t last very long (made from cheaper quality materials) and we will just have to replace these items more often. Due to this, we pay less upfront, but the cost to constantly replace clothing that is falling apart is higher in the long run than paying for higher quality goods at the beginning. We are able to embody the appearance of people who can always afford the latest fashions while thinking that we are avoiding the cost. The people benefiting from these cheap costs are really the rich few; the owners and higher ups of the companies bringing the latest ‘fast fashion’, while hurting the workers of the companies, outsourcing the labor (sewing) to less developed countries where they can get away with poor working conditions and paying the workers almost nothing. This hurts two groups of people, the workers in the developed countries that are protected by wage laws no longer have access to the job due to outsourcing, and the employees in the less developed countries who are forced to work insane hours, and in dangerous working conditions…
* The retail wearing industry is highly competitive, with buyer power being the strongest force. The painful materials needed for manufacturing are relatively abundant, which limits supplier power and accommodate room for price negotiating. There is low cost of entry, so the industry is flooded with competitors and knock-off substitutes, but it’s the consumer who decides what is fashionable and trendy. The retail clothing industry is driven off customer loyalty, and must instantly adapt to the customers economic needs.…