Fashion 4.0 Question Preview (ID: 45345)


Fashion 4.0. TEACHERS: click here for quick copy question ID numbers.

When the price of a product or service increases, demand will usually:
a) be average
b) decrease
c) increase
d) be the same

Trey buys his wife a new purse for Mother’s Day. She immediately begins to use it on a daily basis. In this example, what is the wife’s role?
a) consumer
b) wholesale
c) service
d) supplier

A markup equal to the cost of the merchandise is:
a) extended
b) initial
c) keystone
d) maintained

Belk provided a coupon in the newspaper for 15% off twin bed sheets regularly priced $48.50. Excluding tax, what would a customer pay if they used the coupon?
a) 7.28
b) 41.22
c) 38.99
d) 27.28

What is a basis for psychographic segmentation?
a) customer location
b) education level
c) income
d) lifestyle

Most department and fashion specialty stores calculate markup percent based on:
a) cost
b) markdown
c) markup
d) retail price

An amount added to the cost of goods to reach a selling price is a/an:
a) add on
b) cost plus
c) extension
d) markup

Jason purchased a sweater from a local men’s apparel retailer. The price he paid was the:
a) cost
b) extended price
c) retail price
d) keystone pri ce

Sweaters originally priced to sell for $92.79 are marked down 75%. What is the sale price?
a) 22.78
b) 23.20
c) 54.32
d) 62.32

There is only one department store in a small, rural town in North Carolina without any competitors. The store dominates the industry in that area. This describes which competitive market structure?
a) monopoly
b) Nonprice Competition
c) Oligopoly
d) Pure competition

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