Profit and Loss

Week 6

Micro Society

Profit and loss

Profit and loss are two of the most major

things a business needs keep count of.

Profit means "a financial gain especially the difference between the amount earned and spent". However, the definition of loss is" an amount of money being lost by a business". This week in Micro Society we discussed its meaning and how it will help us in our businesses.

We thought about what it might mean for our companies and experimented it in our next simulation. It was fun however not many people came to our business.

The whole class also watched a video about the general election, which took place on Thursday. It explained many things about it and how it was called early.

This week in I had lots of fun and I can't wait for next week.