Friday 27th May 2018

Microsociety blog week 7.

Profit and Loss.

This week in Microsociety we finally had our first section,the banker had handed out the money and made sure we all had exactly got 108 Waks.Everyone got into there business groups and set there products out,ready for people to buy.My business is called The Fan Art Agents,we sell products like: posters that are customised for you,bookmarks,badges to represent your business and more.

I can tell that my business is a success because so far in total we have earned 35 Waks in one section.My boss has distrabuted the money fairly to her employees and each of us has earned 15 Waks. The head of state also asked us if he could buy a badge and a poster which added up to 15 Waks more.Our business is more of a Profit than a loss.

After the section,we watched a video about a credit card,a debit card and another card which i cant remember.They all had a fight about who was better and who should get chosen to be payed by.A credit card is used to buy goods but the card holder needs to pay the bank back the money.A debit card is used to buy goods but the cardholder dose not need to go back to the bank and pay it back,instead the card automaticly transfers the money from the bank to whatever shop your in.