Job losses and the rise in unemployment have put severe strains on the livelihoods of many Europeans. The forecast projects the unemployment rate in the euro area to rise from 7.5% in 2019 to 8.3% in 2020 and 9.4% in 2021, before declining to 8.9% in 2022.
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Answer:
Markup
Explanation:
Markup (or price spread) is the difference between the selling amount of a good or service and cost. It is mostly in the form of a percentage over the cost. A markup is included into the entire cost made by the producer of a good or service so as to take care of the costs of undergoing a business transaction and to make a profit.
To estimate the markup amount, we make use of the formula:
markup = gross profit/wholesale cost.
While,
Gross profit =markup * wholesale cost
The final retail sticker price = gross profit + wholesale cost
To develop an ad requires the services of people except there is an in-house talent that is readily available, people such as actors, voice talent and videographers are contacted to get the job and Ad ready. Commissions mostly do not show those forms of expenses, though. In such situations, the standard procedure is to add 17.65 percent to the costs incurred by the producer bill.
Another notable example can be like this, a radio ad employed the service of a Senami, who is a voice talented individual for a radio ad. She was paid $85, the client will be billed $100 (17.65 percent of 85 is 15). The $15 difference is the agency commission.
Hope this duly explain our answer!
