Wear made in Ghana

Another perfect opportunity to boom the fashion and design industry. This initiative of patronizing Ghanaian made clothing begun when Hon. Alan Kyeremanteng introduced what we call FRIDAY WEAR.

This was an initiative that could help to boom the Fashion and Design industry but why then a sudden change in attitude towards such initiative.

Now, Friday wear is been recognized as fashion for a particular group of people in the country. In economics, the law of demand state, The higher the Price, less quantity is demanded and the lower the price higher quantity demanded. Every rational human being makes more purchases when the prices of the goods and service are reasonable and affordable.

But what happens to the Ghanaian Fashion and design industry, the higher the demand, the higher the price which is not supposed to be so. If we want to get more demand for the products, then we have to do more supply rather than increasing the prices.

The increase in price causes less demand for local product and higher demand for the same product imported from neighboring countries at a less price with less quality and which intend kills the infant firms in the industry.

Lowering the price means more will be demanded, which will also mean more hands will be required to meet the demand. By so doing more employment opportunity is going to be created right from the supplier of the fabrics to the final consumer which will also intends to increase the GPD of the economy.

Therefore if we want to achieve the initiative of “WEAR MADE IN GHANA” producers of made in Ghana wear should increase demand by enjoying economics of scale in order to produce more at a less productive cost for the final consumer to be able consumer. The higher the demand, the higher should be the supply not an increase in price.