Microsociety Blog 6 - Profit & Loss and Supply & Demand!
This week in the wonderful world of Microsociety we looked at Profit and Loss and Supply and Demand.
Profit and Loss: Your profit is when you're earning more than you have spent, so you are getting more than your money back. Your loss is when you don't get back what you have spent on things you need!
Supply and Demand: Your supply is your stock. Your demand is when lots of people want to buy your product. These need to be fairly equal or you will of either payed import tax for stuff you don't need or you will run out when you could have been selling a lot!
We have also been looking (in our groups) if we have been earning a profit? In my newsagent business we have had a lot of profit. We spent 68pz and have now got around 365pz!
Here is an example of profit and loss:
Five Guys spent 5,000 Toys R us spent 8,000 pounds on furniture. pounds on toys. By the By the next week they next week they had earned had earned 8,000 4,000 pounds which means pounds, which means they made a loss, so they they earned a profit can't pay back what they because they got the have spent! spent money back and more!