Title: Differentiate between cost and retail price.
Course: Fashion Marketing (12153-I) > Section: Understanding Economic and Marketing Concepts

Differentiation should include definitions of cost and retail. It should also include examples of each from the fashion industry.

Process/Skill Questions:

- Why are the concepts of cost and retail important in fashion?
- What is the basic equation used to determine profit?
- What is the meaning of profit margin?
- What is a break-even point?