Fashion is a broad term that covers a wide range of aesthetic practices related to clothing, jewelry, cosmetics, footwear and behavior. Fashion is a cultural form of autonomy and self-expression in a certain time and place and at a certain context, often with reference to specific social or communal norms. The word itself indicates a style defined by the fashion industry as what is currently fashionable. Fashion trends are determined by current events and consumer tastes that are shaped by many factors.

Fashion is the systematic collection, interpretation, and evaluation of available data and styles related to these data. This may take the form of consumer selections or institutional practices. Much of this occurs in the field of fashion merchandising or design where the process involves collecting data concerning current fashions and patterns and evaluating and altering them to create new designs. In the process of doing so designers and merchandisers have come to understand the social and economic factors that affect people’s buying decisions and fashion trends. They use the information they collect to develop and produce new clothing and other merchandise.

There are different designations for various aspects of fashion, such as formal, semi-formal, casual, fine plus formal, and casual plus formal. It also covers outer wear, work wear, house wear, evening wear, sports wear, swimwear, lingerie, and also children’s wear. These categories of clothing cover the full gamut of the marketplace and are not mutually exclusive, which is surprising given how broad a definition this terminology can be. Just as there are different kinds of people and social situations, there are also different types of fashion: formal, casual, and trendy. Each of these subdesigns within fashion is an expression of societal norms and individual expression.

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One example of this overlap is seen in our language, where the words skirt and trousers both derive from the same Latin root. Slacks, however, is derived from the verb slangare, while trousers comes from the verb tautum, both of which mean “to stretch.” Likewise, both the words pant and pants derive from the same source, the Latin word pater. Pant is commonly used to refer to a trouser made of all purpose material and worn below a dress while pants is usually used in reference to trousers made of special fabric, specifically cotton. To this day pant and pants continue to share many commonalities in their usage, even between English speakers who do not regularly use either word.

The meaning of economics fashion design can be compared in that clothes developed for economic purposes are often utilitarian in nature. They are designed to be durable, practical, and affordable. On the other hand, these garments are often highly decorative, feminine, and attractive, reflecting personal preferences. Clothing for economic purposes tends to have a utilitarian purpose, whereas dress for aesthetic purposes is intended to beautify the person wearing it and convey messages about beauty, status, or personal preferences. Clothing for both purposes tend to be identical in form, but differentiate in function: utilitarian clothing is designed to be comfortable and practical, while aesthetic clothing is designed to beautify the person wearing it.

Economically prepared clothing items are generally referred to as ready-to-wear clothing, while dresses, bridal gowns, casual wear, evening dresses, lingerie, and swimsuits are terms used to describe ready-to-wear products. Ready-to-wear clothing is often sold in shops as an item of complete uniformity, consisting of a t-shirt, jacket, shorts, skirt or corporate shirts; often these products come with accessories like shoes and jewelry, and they may be of a single or multiple size. This form of commercial product development is widespread throughout the world today, and fast fashion and ready-to-wear clothing companies dominate the international fashion scene. Fast fashion and ready-to-wear clothing are the two major features of contemporary economics and fashion design, with economics and fashion playing an important role in each.