Managing Markups

by 110096 on November 11, 2014

1) What were the two big take aways from Managing Markup assessment?

The biggest take away I had gotten from the assessment was definitely how to use excel. Before the assessment, I didn’t know about formulas and the easy shortcuts, but after working on Managing Markups for a week, I became familiar with excel.  I now understand how to create tables, graphs, borders, and work with formulas. As well as learning how to use excel, I now know how to use percents and apply them to real life situations. Earlier, I knew percent basics and the formulas for many aspects used in markups, but now I know how to apply and how they are applied to real life situations.

2) How have you become a more educated investor? Be specific about how you would invest your money.

From the investigation, I now have a clear understanding of how to invest money wisely. Before working on Managing Markups, I thought that keeping money in the bank was unclear, I had actually believed that one had to pay in order to keep money in the bank. I now know why investing is a smart and useful way to store money. Plus, I have a greater understanding of why and how items become so expensive in retail stores. If I had money to invest, I would invest it for as long as possible in a trustworthy bank, which has a high markup.

3) Describe, with examples, how you improved some of your math skills.

My math skills have improved percentage wise. Now I know how to perform simple and compound interest, and I have improved my quick multiplication skills. Obviously I know how to multiply, but I can multiply longer numbers quicker in my head now.

4)Why doesn’t a 20% discount followed by a 20% markup get you back to where you started?

If $100 was the original number used, the first 20% discount would be taken out from the $100, leaving $80. The following 20% markup would then be taken from the $80, resulting in a final $96.

How do companies make a profit?

First, companies markup the wholesale price, which equalise in a retail price. Then, the company either sells the product in it’s retail price, or discounts the product from it’s retail price. Then, they still earn a profit because they have already increased the price (retail to wholesale). Although, if the wholesale price was increased by 20% to create the retail price, and then decreased by another 20%, the new retail price would be lower than the wholesale price. So in order to make a profit, the discount should be lower than the markup from the wholesale price to the retail price.

Is it possible for everyone to win in the marketplace?

No. As known, there is a limited amount of money, which is transferred from one person to another. This way, there will always be one person with more money than another. Although, if a retailer sells a product a little over it’s wholesale price, the retailer will make a profit and the buyer will pay little over the wholesale price, using less money. Yet that would mean that less money goes towards the costs of the retailer. In the end, not everyone is able to win in the marketplace, but some people win more than others.

Yes. Some

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iBook for Young Readers

by 110096 on November 10, 2014

Dear Grade 5 and 6 students,

In Design and Science class, a group of students and myself have been challenged to create an interactive iBook about Leukemia for a younger crowd. When I was your age, I was attracted to technological aspects in a book. Books with images designed on a computer, that were also interactive allowed me to engage with the book and learn more about the subject in a fun way. Although, I only enjoyed looking at simple diagrams, not complex diagrams with endless words. What do I mean by ‘interactive’? I mean, if there was a diagram of an animal in the book and once I touched a specific part information about that body part appeared. If there were quizzes in the book about what I had learnt, that interested me. Videos and 3D images were cool as well. What do you think? Do you agree? Do you disagree? What aspects attract you? What would you like to see in our book?

Feel free to comment!

Romi Hadar 8D

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