Match a Term to Each Description Below

question 31

Essay

Match a term to each description below.
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Definitions:

Markup Percent

A percentage added to the cost price to determine the selling price.

Cost

Cost refers to the amount of money or resources expended to obtain a good or service, including production, materials, labor, and other expenses.

Markup Percent

The percentage increase applied to the cost price of goods to calculate their selling price.

Selling Price

The amount of money for which a good or service is sold to the buyer.