Question

What type of connection can you make between markups and tips or taxes? What type of connection can you make between markdowns and discounts? Explain your answer.
100 pts

Answer 1

Answer:

Relationship between the terms could be made in terms of increase and reduction in the amount paid.

Markups, tips and taxes leads to paying more while discount and markdown leads to paying lower fees.

Markups simply means the additional amount or increase in the value a purchased good or asset.

Tips refers to a voluntary amount given to a worker at a shop, restaurant and so on.

Taxes refers to the amount paid as government dues on one's earning.

Markdown refers to the reduction or decrease in value of a good.

Discounts refers sales offer leading to the reduction in the value of a good or service

Markups, tips and taxes could be classified as additional or increased payment made, leading to more or increased spending.

Markdown and discount could be classed as a scenario where one has to pay less for a good or service.