define the term profit
financial gain/ cost price is deducted from selling price/when you make more money than what you have spent
what is the formula for % profit
% profit = profit/ cost price x 100
is it true that Profit margin can be more than 100%
false
Define Selling Price
price for which the item is sold or supplied
Is it good for a business to make a profit or a loss
profit
What does the Production Cost consist of?
can the % Profit can be more than 100%
True/yes
What is the formula Selling Price
Cost Price + Profit
What does the Total Cost Price consist of?
Production Cost and Running Cost
Profit Margin= Profit/ Selling Price x 100
To make the business function what do we need?
Electricity/Water/ depending on the business we have (Running Cost)