Demand curveIn a demand schedule, a demand curve is a graph depicting the relationship between the price of a certain commodity (the y-axis) and the quantity of that commodity that is demanded at that price (the x-axis). Demand curves can be used either for the price-quantity relationship for an individual consumer (an individual demand curve), or for all consumers in a particular market (a market demand curve). It is generally assumed that demand curves slope down, as shown in the adjacent image.
Loss functionIn mathematical optimization and decision theory, a loss function or cost function (sometimes also called an error function) is a function that maps an event or values of one or more variables onto a real number intuitively representing some "cost" associated with the event. An optimization problem seeks to minimize a loss function. An objective function is either a loss function or its opposite (in specific domains, variously called a reward function, a profit function, a utility function, a fitness function, etc.
Fashion capitalA fashion capital is a city with major influence on the international fashion scene, from history, heritage, designers, trends, and styles, to manufacturing innovation and retailing of fashion products, including events such as fashion weeks, fashion council awards, and trade fairs that together, generate significant economic output. With exquisite fashion heritage, structured organization, and the most vaunted fashion designers of the last century, four cities are considered the main fashion capitals of the 21st century.
