The \300 pair of designer jeans is now, courtesy of the recession, the \200 pair of designer jeans. “It was all just a fad,” said Jeff Rudes, a founder of the hot denim label J Brand Jeans and an astute observer of the suspiciously inflated prices of fashion’s most eternally reinvented staple. Like any commodity that becomes over-priced, there eventually comes a market correction. And denim’s day of reckoning was long overdue.

Question

Examsnet · Accepted Answer

Correct Answer is : As in the case of any product that becomes overpriced, recession brought about a correction in the prices of designer jeans that are now priced at a reasonable $200 a pair.

NIFT PG 2014 Question Paper with solutions