What does the term "period costume" refer to?

The term "period costume" specifically refers to clothing that reflects the styles and trends from a particular historical era. This can include clothing that accurately represents the silhouettes, fabrics, and decorative elements that were popular during that time. Period costumes are essential in theater and film as they help to create the authentic atmosphere of a specific time period, allowing audiences to immerse themselves in the historical context of the story being told.

In contrast, the other options do not accurately capture the defined meaning of "period costume." Clothing reflecting current fashion would involve modern trends, which is not aligned with the concept of period costumes. Likewise, costumes that are modern in design do not serve the purpose of depicting historical accuracy. Lastly, the descriptor of any costume with bright colors does not pertain to the historical reference that "period costume" implies, as it overlooks the specific design elements tied to a certain era. Hence, the correct choice highlights the essence of period costumes as representations of previous fashion epochs.