What does the term ‘markup’ refer to in retail...

Beauty Business Practice Test

Question Number 5

What does the term ‘markup’ refer to in retail pricing?

The total expenses incurred to run a business The difference between the cost price and the selling price The percentage reduction in price during sales The amount of profit a business aims to achieve

✔ Correct Answer:

The difference between the cost price and the selling price

Beauty Business Practice Test

Question Number 5

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