Question

In the 21st Century the price of clothing is down _______ but the quantity of clothing purchased is up 40%!

Answer 1

The price of clothing has decreased in the 21st Century, while the quantity of clothing purchased has risen by 40%. This is a result of manufacturing efficiencies, affordable department store offerings, and the influence of fashion trends. Economic conditions like inflation rates and GDP also play roles in consumer spending behavior.

Step-by-step explanation:

In the 21st Century, the price of clothing has decreased, but the quantity of clothing purchased is up 40%. This trend can be largely attributed to advancements in manufacturing and semi-skilled labor which have reduced the costs of producing textiles. Additionally, as department stores expanded their selections, more people could afford a variety of clothing items. In the modern era, consumers tend to replace clothing not just when it's worn out, but also to keep up with changing fashion trends.

Various periods throughout history, such as the economic inflation in the 1970s and deflation in 2009, have influenced how the price and quantity of goods are perceived. In modern times, the overall production and quality of goods, including textiles, have significantly improved. In the context of the broader economy, notable events such as decreased unemployment rates, an increase in the Gross Domestic Product (GDP), and a reinvigorated stock market can also affect consumer spending habits.

Answer 2

25%

Step-by-step explanation:

In the 21st Century the price of clothing is down 25% but the quantity of clothing purchased is up 40%!

As a result of the reduction in the price of clothings and wears, there happened to be a corresponding increase in the demand for the clothes and wears. This is the logic happening because, since the price has lowered, more people would be able to afford it, and hence, more demand for it. Or say, increment in the quantity being purchased.