How Does Scarcity in the Fashion Industry Affect People's Choices?

SOURCE: LibaiFoundation.Org

The economic principle I will explore is:

Because of scarcity people choose. All choices have an opportunity cost.



The overall question I will research to help explore the economic principle is:

How does scarcity in the fashion industry affect people’s choices? 



3-4 sub questions that will help me answer my overall research questions are:

How does scarcity affect the product’s price?

How does scarcity affect the product’s quality?

What opportunity costs and trade offs can be made by the consumers and producers?



Links to 3-4 reliable resources that can help answer the research question:

BBC.com

Styled.media

Theluxestrategist.com