Runway fashion shows are a way for fashion designers to showcase their latest collections to buyers, press, and the public. They allow designers to express their creative vision and demonstrate how a collection can be worn. Runway fashion shows also provide an opportunity for the media to report on the latest fashion trends and for buyers to purchase the latest designs. Additionally, they are a great form of entertainment, allowing viewers to be inspired by the clothing and beauty of the models. In short, runway fashion shows are an essential part of the fashion industry, providing a platform to share new designs, report on trends, and capture the attention of the public.
External economies of scale refer to the economic benefits that a company or industry can reap from being located in a specific geographical area. These benefits can include access to specialized resources, an increased pool of skilled labor, and increased competition. Additionally, local governments may provide incentives such as tax breaks or subsidies to draw businesses to the area. These external economies of scale can help businesses to expand and increase their profits. By taking advantage of external economies of scale, businesses can become more competitive and efficient, ultimately leading to greater success.