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4.02 Mile Marker 3 and 4

AB
Needs to happen to break even when reducing price.Sell more
Know in advance to predict profitBreak-even point
Covering, wrapper or containerPackaging
Added to cost to ensure profitMarkup
Net incomeProfit
Cash flow statement includes:Expenses, net income and revenues
Tells business worthBalance sheet
Constant expenseFixed costs
Income statement showsProfit or loss
100% markupDouble the price
A "practice product"Prototype
System for maintaining standardsQuality Control
Process used to test a business ideaFeasibility analysis
Product standards benefit theConsumer
A feasiblility analysis tells if..the idea is practical



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