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TAM > Exam 1 > Flashcards

Exam 1 Flashcards

0
Q

Paper pattern

A

Eneneze butterick in monthly mags

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1
Q

Slops

A

Early term for ready wear

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2
Q

Sizing standards

A

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

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3
Q

Civil war

A

Mass statistical data soldiers uniforms standardize sizing

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4
Q

Gold rush

A

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

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5
Q

Triangle shirt waste fire

A

Women died increase support

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6
Q

ILGWU

A

International ladies garment workers union

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7
Q

Unite

A

ILGWU now know as

Textile manufacturing and distribution union

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8
Q

Sewing machine

A

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

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9
Q

Ready to wear

A

Done by tailors on the east coast

So soloed could quickly get clothes before returning to sea

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10
Q

Soft good industry

A

Fiber textile apparel and retail

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11
Q

Industry trends

A

Globalization, licensing, mergers and acquisitions, vertical integration

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12
Q

Pure completion

A

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

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13
Q

Monopolistic competition

A

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

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14
Q

Sole proprietorship

A

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

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15
Q

Partnership

A

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

16
Q

Corporation

A 
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
17
Q

Private companies

A

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

18
Q

Public company

A

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

19
Q

Annual report

A

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

20
Q

Merger

A

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

21
Q

Consolidation

A

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

22
Q

Acquisition

A

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

23
Q

Vertical operation or inter fraction

A

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

24
Q

Private label

A

Merchandise unique to a store, ex: pink by vs

25
Q

Licensing

A

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

26
Q

Copy right

A

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

27
Q

Trademark

A

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

28
Q

Patent

A

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

29
Q

Social

A 
Education: higher standard of living more spending $ 
Crazes and dad's 
Geographical 
Heros
Occupation
Entertainment choice 
Pop culture 
Demand by group
30
Q

Political

A

What politicians wear

31
Q

Technological

A 
Mass production 
Textile research 
Transportation 
Communication
Appliances and inventions
32
Q

Personal income

A

Gross before taxes

33
Q

Disposable income

A

After tax

34
Q

Discretionary

A

After tax minus necessities

TAM (4 decks)

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