Fashion Unit 1 Vocab

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Across
  1. 1. goods that come into a country from a country from foreign sources or goods that a country buys from other countries
  2. 5. the relationship between a country’s imports and exports
  3. 7. measured by the dollar amount of apparel and accessories sold per square foot of store space each year
  4. 9. the possibility that a loss can occur as the result of a business decision or activity
  5. 10. quantity of a product that the producer is willing and able to make available
  6. 13. the selling of products to customers
  7. 15. industry segment that includes businesses that grow and produce the raw materials that become fashion apparel or accessories
  8. 16. North American Free Trade Agreement between US, Mexico, and Canada that enables all countries to experience free trade by eliminating or reducing tariffs (fees) for trading goods
  9. 17. industry segment that includes businesses that transform the raw materials into fashion in the merchandise production phase
  10. 18. goods that a country sends to a foreign source or goods that a country sells to other countries
  11. 20. increase in productivity resulting from retail stores being located near each other
  12. 21. Management a strategy to offset business risks
Down
  1. 2. an organization whose members agree to remove trade barriers between the member nations while imposing barriers on countries that are not members
  2. 3. money that is left after needs are met and bills are paid
  3. 4. organization that fosters trade and provides a forum for the 144 member countries to negotiate and handle trade disputes
  4. 6. when a manufacturer has produced too many of an item
  5. 8. industry segment that includes retail businesses such as stores
  6. 11. a business that is chartered by a state and legally operates apart from the owner or owners
  7. 12. a business owned and operated by one person
  8. 14. Price the price at which consumers are willing to buy enough of the fashions for the producer to make a profit
  9. 15. a business created through a legal agreement between two or more people who are jointly responsible for success or failure of the business
  10. 19. the quantity of a product that customers are willing and able to buy