Title: Explain the purpose of economic indicators.
Course: Fashion Marketing, Advanced (12153-II) > Section: Analyzing Economics

Explanation should include how an economy is measured and the concepts of

- gross domestic product (GDP)
- gross national product (GNP)
- standard of living index
- consumer price index (CPI)
- producer price index (PPI)
- inflation rate
- unemployment
- recession, depression.

Process/Skill Questions:

- Why is it important for someone in the fashion marketing industry to stay informed and up-to-date on economic indicators?
- What might be some negative effects of not staying informed?
- What is the difference between a recession and a depression?
- What is the effect of high unemployment on the local, regional, or national economy?
- How might a change in inflation affect supply and demand in the fashion industry?