# CTE Resource Center - Verso - Fashion Marketing Economics and Personal Finance Standards of Learning Correlation by Task

CTE Resource Center - Verso

Virginia’s CTE Resource Center

Economics and Personal Finance Standards of Learning Correlation by Task

In this course, the following tasks/competencies reinforce the standards listed beside them. Teachers may identify additional reinforcements in locally developed instructional materials.

Task/Competency Number Task/Competency Statement Standards
44 Describe the influences that economic, demographic, social, political, geographic, and psychological factors have had on fashion. Economics and Personal Finance Standards of Learning: EPF.1
54 Explain the concept of marketing. Economics and Personal Finance Standards of Learning: EPF.2 ♦ EPF.10
55 Explain economic utility. Economics and Personal Finance Standards of Learning: EPF.2
56 Explain marketing functions and related activities. Economics and Personal Finance Standards of Learning: EPF.3 ♦ EPF.6
57 Explain the concept of marketing identification. Economics and Personal Finance Standards of Learning: EPF.2
59 Identify the channels of distribution used in the fashion industry. Economics and Personal Finance Standards of Learning: EPF.1 ♦ EPF.2
73 Describe the major factors affecting selling price. Economics and Personal Finance Standards of Learning: EPF.1 ♦ EPF.3
74 Describe the psychological effects of pricing. Economics and Personal Finance Standards of Learning: EPF.2
75 Differentiate between cost and retail price. Economics and Personal Finance Standards of Learning: EPF.1 ♦ EPF.3
76 Calculate retail price. Economics and Personal Finance Standards of Learning: EPF.3
77 Calculate gross profit and net profit. Economics and Personal Finance Standards of Learning: EPF.2 ♦ EPF.3
81 Explain economic goods and services. Economics and Personal Finance Standards of Learning: EPF.1 ♦ EPF.2
82 Identify economic resources used in the fashion industry. Economics and Personal Finance Standards of Learning: EPF.1 ♦ EPF.2
83 Explain competition. Economics and Personal Finance Standards of Learning: EPF.2
84 Analyze the concept of supply and demand. Economics and Personal Finance Standards of Learning: EPF.3 ♦ EPF.4 ♦ EPF.10
86 Examine the impact of internal shortage, external shortage, and shrinkage on the profit of a fashion business. Economics and Personal Finance Standards of Learning: EPF.2
87 Identify the elements of the promotional mix. Economics and Personal Finance Standards of Learning: EPF.2
90 Explain the concept of customer loyalty programs. Economics and Personal Finance Standards of Learning: EPF.2 ♦ EPF.10