micro society

week ; 6+7

This week in micro society we looked at two words.

SUPPLY AND DEMAND , PROFIT AND LOSS . Profit means

when you buy something for a certain price , maybe 30

pounds . Then you bring it to your business and sell it for

40 pounds . If you subtract the two prices you get a

profit of 10 pounds . So profit means the extra money

you make . On the other hand loss means the opposite so

if you have 30 pounds and sell it for 20 pounds you

make a loss of 10 pounds .

We also looked at the word supply and demand .

Supply means the objects have to sell . Demand

means what the people need .

The most fun and amazing thing was that we

managed to do some trading . My business got out

of stock so we decided to make more . but the

problem was that we have to pay more import tax .