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DSST Business Math: Markup Vocab
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DSST Business Math: Markup Vocab
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10 Questions

1. The actual amount paid for a product - as opposed to its selling price - and which can include expenses such as freight charges and taxes

2. The difference between the cost of a product and the selling price when the selling price is higher

3. Any money left after expenses have been deducted from gross profit - also called net income

4. What a product actually sells for in the store also called retail price

5. The net profit on an item expressed as a percent of the selling price

6. The markup on an item expressed as a percent of its selling price

7. The discount on an item expressed as a percent of its regular selling price - such as 20%

8. The amount of money a supplier makes on a product when its sold for more than cost

9. He difference between the regular selling price of an item and its sale price

10. The costs of running a business - such as salaries - rent - utilities and taxes. also called overhead

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