We will be tackling financial literacy by looking at profit/loss, selling price, cost price, using the product code method to calculate profit, using the secret code cost method to determine the cost of sales and profit, using a mark-up % to calculate the cost of sales and profit and recording transactions of a trading business enterprise in the cash receipts and cash payments journal.
Up Next in Term 1
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Economic Systems
We will discover what economic systems are and look at two different types of economic systems; the planned economy and the market economy.
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Economic Systems - The mixed economy ...
We focus on a mixed economy and the global economy and the advantages and disadvantages of using them.
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The economic processes of a closed ec...
Economic processes exist to satisfy the wants of people. This lesson takes a closer look at the processes of production, exchange, and consumption and the flow of goods and services, money, and the factors of production.
