PROFIT
What Is Profit?
(The Money You Make / Money Left Over After Costs)
Who Buys The Product?
Should You Spend More Than You Earn?
(No, Because you will Lose Money)
What is Price?
(The Amount That Customers Pay)
Name a Business You Visit often
(Any Business)
What Is The Profit Formula?
(Price - Cost = Profit)
Money The Business Spends For Materials?
(Cost / Expenses)
What Should a Business do If No One Is Buying?
(Lower Prices / Improve the Product)
If Something Is Too Expensive, What happens?
(The Customer Will Not Buy It and They will End Up Going Somewhere Else)
What Makes You Return to a Business?
(Good Service, Affordable Price, Nice Quality)
Cost = $5, Price = $12
What Is The Profit?
($7)
What is The Money Customers Pay?
(Price)
Why is Saving Money Important?
(Emergencies, Renovations, Future Needs etc.)
Cheaper vs. More Expensive -- Which is Better?
(It depends on personal Preference and what you can afford)
What Makes Customers Leave?
(Bad Service, High Prices, Dirty Buildings)
What Does It Mean If The Profit is In The Negatives?
(You lost money)
Give An Example of A Business
(Any Valid Answer)
If Costs of Materials Increase, What Might a Business Do?
(They Would Raise Prices)
Why Do Big Brands Charge More?
(Quality, Name, and Demand)
Why Do Businesses Advertise?
(To Attract More Customers)
Why Is Profit Important?
(It Keeps The Business Running and You Are Able To Pay Bills)
What Does a Business Provide?
(A Good or a Service)
What is Risk in A Business?
(Taking a Chance to Make More Money or Lose Money)
What Makes a Good Deal?
(Good Value For Price)
What Is The Goal of Most Businesses?
(To Make A lot of Money/Profit)