Fashion

In society today fashion is everything. People across the world spend millions of dollars every day to look a certain way. Some people can afford the high end apparel that is seen on television and fashion shows. Where in some countries people cannot afford to put a clean shirt on their back. An average pair of pants for a man cost between 25 and 30 dollars. Some people would think that price is outrageous and some people would it to be right around the average price. In 2011 prices on clothing were steadily raising according to Consumer Price Index of the Labor Department. In any case there are many opinions on why this is happening. Some people believe it because of the recession, but according to the article, "Chicago bucks National Trend of Higher Clothing Costs," shows it may be significant reason for the rise in prices on clothing and appeal.

Everybody needs some type of clothing, but if the prices keep rising how can people afford to buy it. The article explains the nationwide prices on appeal were raised in 2011 and Chicago manages to keep its prices at a normal rate or below the standard rate. The law and demand states that if the prices are raised then people tend to buy less and therefore making it harder on retail stores to sale the clothing. There is always a demand to clothing and appeal, but at what cost. The article explains that one of the reasons for this sudden change in price of clothing is because of the price of cotton surging to record of two dollars and seventy cent per pound. This action caused for cotton sale to hit a record low and the reaction caused the prices in stores to come up.

The law of demand also states that when prices go down people tend to buy more. This has a direct affect on the demand of clothes or apparel from the consumers and the demand of cotton from retail stores. When retail stores purchase cotton at a low rate then they were able the sale clothing and appear at a normal or equilibrium rate, furthermore making...