Exam 1

Question 0

Paper pattern

Answer 0

Eneneze butterick in monthly mags

Question 1

Slops

Answer 1

Early term for ready wear

Question 2

Sizing standards

Answer 2

Proportional increase and decrease in garment measurements for each size produced
Men’s civil war uniforms the first

Question 3

Civil war

Answer 3

Mass statistical data soldiers uniforms standardize sizing

Question 4

Gold rush

Answer 4

Westward migration, Levi’s started as canvas tents, patent for rivets, cutting denim

Question 5

Triangle shirt waste fire

Answer 5

Women died increase support

Question 6

ILGWU

Answer 6

International ladies garment workers union

Question 7

Unite

Answer 7

ILGWU now know as

Textile manufacturing and distribution union

Question 8

Sewing machine

Answer 8

Hunt in England em vented the machine
Howe and singer
Civil war uniform first large scale application to be swen

Question 9

Ready to wear

Answer 9

Done by tailors on the east coast

So soloed could quickly get clothes before returning to sea

Question 10

Soft good industry

Answer 10

Fiber textile apparel and retail

Question 11

Industry trends

Answer 11

Globalization, licensing, mergers and acquisitions, vertical integration

Question 12

Pure completion

Answer 12

Free market
Many producers & sellers of similar products
No barriers to entry
Price is determined through supply and demand
Retailing

Question 13

Monopolistic competition

Answer 13

Companies selling similar products
Products produced by a particular company is unique to that company
Apparel companies with a brand name

Question 14

Sole proprietorship

Answer 14

Individual owns business and it’s property

Profit is personal income to owner
Owner is liable for any buisness debt
Both business & personal assets can be acquired to pay off debts

Question 15

Partnership

Answer 15

2 or more people own buisness
Debts shared amount partners
General partners share profit from the business as personal income

Question 16

Corporation

Answer 16

Legal entity regardless of who owns it 
Ownership belongs to stockholders 
Liability is limited to the value of the stock they own in company 
Board of directors run company 
Not liable for company's debt

Question 17

Private companies

Answer 17

Owned by group of people
No stock is sold to the public
Don’t have to report info

Question 18

Public company

Answer 18

Sell their stock to public
Must report in activities to shareholders and securities & exchange commission
Easy to find info about

Question 19

Annual report

Answer 19

Company’s report to shareholders
Contain financial info
Info given on past years performance and the upcoming year

Question 20

Merger

Answer 20

One company joined with another company
Way to grow
A+b= a

Question 21

Consolidation

Answer 21

2 companies are joined and the result is a new company a+b=c

Question 22

Acquisition

Answer 22

One company boys another but allows the company to retain its identity or sell it

Question 23

Vertical operation or inter fraction

Answer 23

Perform more than one function in the man factoring and distribution process
Way to diversify
Provides control

Question 24

Private label

Answer 24

Merchandise unique to a store, ex: pink by vs

Question 25

Licensing

Answer 25

An agreement whereby the owner of a particular image or design sells the right to use the image or design to another party Sold to manufacturer for payment of royalties Add value to merchandise

Question 26

Copy right

Answer 26

Protects a number of written pictorial and performed work Textile print and graphic designs Not apparel designs such as silhouettes

Question 27

Trademark

Answer 27

Word phrase symbol or design or a combination of words phrases symbols or designs that identifies and distinguishes the source of good of one party from another

Question 28

Patent

Answer 28

Grants property rights to an inventor for a limited time Excludes others from making selling using or offering !,&)(&?;6 Patent for 20 years

Question 29

Social

Answer 29

``` Education: higher standard of living more spending $ Crazes and dad's Geographical Heros Occupation Entertainment choice Pop culture Demand by group ```

Question 30

Political

Answer 30

What politicians wear

Question 31

Technological

Answer 31

``` Mass production Textile research Transportation Communication Appliances and inventions ```

Question 32

Personal income

Answer 32

Gross before taxes

Question 33

Disposable income

Answer 33

After tax

Question 34

Discretionary

Answer 34

After tax minus necessities