2. Name two things that could have made Market Day better.
3. By this point, you should understand a wide variety of percent applications. Name one new concept you learned.
4. After completing the Market Day project, you should have a good idea of the important decisions that help businesses make profit. What three decisions do you think were the most crucial to a successful business plan (making profit)? Explain each.
1. Did you think that Market Day gave you the opportunity to demonstrate your knowledge (do you think it was a good test grade)? Why or why not?
ReplyDeleteYes because I have learned things that I did not know and it helped me remember that things that we have learned in this unit by doing and activity.
2. Name two things that could have made Market Day better.
Make a spending limit on the product that you will make. Make everyone buy at least one of the items in every booth.
3. By this point, you should understand a wide variety of percent applications. Name one new concept you learned.
I have learned about hourly wages, I did not know what this was until I started this project and I learned that there are more things that has to do with money than just profit and expenses.
4. After completing the Market Day project, you should have a good idea of the important decisions that help businesses make profit. What three decisions do you think were the most crucial to a successful business plan (making profit)? Explain each.
Deciding the retail price, deciding of what product you will sell, the amount that you are serving. The retail price is very important because when you are making profit, it all depends on this. And the amount that you have of your product is important because you might run out or have left overs. The amount is also an important part of making profit because when you run out, that means you could have made more and earn more money. If you have leftovers, that means you either have to save them and sell them later, or trash them and lose money.
Did you think that Market Day gave you the opportunity to demonstrate your knowledge (do you think it was a good test grade)? Why or why not?
ReplyDeleteI thought that it gave me the opportunity to demonstrate my knowledge. It was a fair grade I guess. I am saying it is a fair grade, because I really didn’t showed my effort and got wrong on some part of solving it. I think this caused, because I didn’t check the answer all over again.
Name two things that could have made Market Day better.
The two things that we could have made market day better are one we could have decorated our desk and stuffs to attract people and to buy our food. Second, is we could have made more rare food like not obvious food like cookies or rice krispies.
By this point, you should understand a wide variety of percent applications. Name one new concept you learned.
The one new concept that I learned was hourly wage. I didn’t know anything about hourly wage until I did this project.
After completing the Market Day project, you should have a good idea of the important decisions that help businesses make profit. What three decisions do you think were the most crucial to a successful business plan (making profit)? Explain each.
I think the three most important decisions that help businesses make profit is to chose a good bulk price, and good retail price, and deciding what you will sell on the market. For good bulk price, if you don;t have a good bulk price you will not have that much of a profit. For retail price, if you have a expensive retail price then people will not like to buy that food. For deciding what you will sell on the market is important too. If people don’t like the food, people will not buy the food.
1.Did you think that market day gave you a good opportunity to demonstrate knowledge?
ReplyDeleteI think that Market Day gave us a good opportunity to demonstrate our knowledge. It was really exciting(not dull) and it made us try harder to get the calculations right to eat. Also, the questions were not to hard, and they were the basics that we had to know.
2.Name two things that could have made Market Day better.
Market Day would have been better if, we had a little more time to do it and maybe use fake money like monopoly money.
3.Name one new idea you learned.
I found out how to find taxes, and discounts from items and finding the total price.
4.Three most crucial decisions for successful business plan.
Choosing how much to markup item/Retail price.
Choosing how many products to make.
Choosing the bulk price.
1.Did you think that market day gave you a good opportunity to demonstrate knowledge?
ReplyDeleteI think that Market Day gave us a good opportunity to demonstrate our knowledge. It was really exciting(not dull) and it made us try harder to get the calculations right to eat. Also, the questions were not to hard, and they were the basics that we had to know.
2. Name two things that could have made Market Day better.
Market Day would have been better if, we had a little more time to do it and maybe use fake money like monopoly money.
3. Name one new idea you learned.
I found out how to find taxes, and discounts from items and finding the total price.
4. Three most crucial decisions for successful business plan.
1. Choosing how much to markup item/Retail price.
Because, if the price is to expensive then nobody would buy them, and if they are to cheap you would lose profit.
2. Choosing how many products to make.
If you make too many, then you might have too many leftovers and lost profit, but if you make a lot then people might buy a lot of them and make profit.
3.Choosing the bulk price.
The bulk price has to be lower than the retail but also higher than the wholesale price.
Math Blog Assignment: February 17th, 2012
ReplyDeleteDid you think that Market Day gave you the opportunity to demonstrate your knowledge (do you think it was a good test grade)? Why or why not?
Yes, I think that Market Day gave me an opportunity to demonstrate my knowledge. And I also think it was a good test grade. This is because Market Day was all about retail or wholesale prices, mark-ups, discounts, taxes, etc. and that is what this unit was about. I think it was a fair and good test grade because how we had to solve to get the final prices tested how much we knew about solving the problems with taxes, discounts, mark-ups, and bulk prices.
Name two things that could have made Market Day better.
I think two things that could have made Market Day better is:
Having a bigger class! We only had 11 people so we couldn’t have a very wide variety of foodd!
I wish, we had maybe done the Market Day at maybe lunch instead of right in the morning because my brownies didn’t sell very well in the morning.
By this point, you should understand a wide variety of percent applications. Name one new concept you learned.
One percent concept I learned is where you have to add or take out taxes, discounts, mark-ups. I had always gotten confused about where to add or take out taxes, discounts, and markups from the original prices or doing other parts first and then solving it.
After completing the Market Day project, you should have a good idea of the important decisions that help businesses make profit. What three decisions do you think were the most crucial to a successful business plan (making profit)? Explain each.
Three decisions that I think were the most important to a successful business plan is:
Making the product appealing. I noticed that my classmates and I had always started buying the most appealing like Jaywon’s fruit punch, which was the only beverage and Lisa’s cupcakes. Plus, I think something unique would also be a better product.
Making the price reasonable. Even though, my price was never really a problem, I noticed around that some of my classmates who had prices that were a little too high didn’t sell many if his/her products.
The recipe I had to choose: I found many, many recipes on the internet for brownies but for me, I didn’t really know which one to pick because some were definitely going to be sweet and good, but the expenses would be much higher but others weren’t too expensive but I didn’t know if they were going to be good or not.
1. Did you think that Market Day gave you the opportunity to demonstrate your knowledge (do you think it was a good test grade)? Why or why not?
ReplyDeleteI don't think it was a good test grade because it's too busy, you might get wrong and it affects test grade.
2. Name two things that could have made Market Day better.
Changing product or bring in less products
3. By this point, you should understand a wide variety of percent applications. Name one new concept you learned.
Tax
4. After completing the Market Day project, you should have a good idea of the important decisions that help businesses make profit. What three decisions do you think were the most crucial to a successful business plan (making profit)? Explain each.
Markup Price
Bulk Price
Amount of Product
1. Did you think that Market Day gave you the opportunity to demonstrate your knowledge?
ReplyDeleteYes, because this project gave me a chance to learn how to sell items in a market, along with all the preparations. Also, we had to solve math problems of percent applications to buy the items that were on sale.
2. Name two things that could have made Market Day better.
Market Day could've been better if..
1)We used change: fake money (more creative)
2)We organized the time to noon (if our product was sweet)
3. By this point, you should understand a wide variety of percent applications. Name one new concept you learned.
Some percent applications were sales tax, discounts, and markup.
4. After completing the Market Day project, you should have a good idea of the important decisions that help businesses make profit. What three decisions do you think were the most crucial to a successful business plan (making profit)? Explain each.
1) Making a good deal for the bulk price (more people will buy it)
2) A reasonable retail price (too cheap or expensive, won't sell)
3) How many items to sell (Risky: if you bring many and don't sell much, you're going to have leftovers and possibly won't make any product)
1. Did you think that Market Day gave you the opportunity to demonstrate your knowledge (do you think it was a good test grade)? Why or why not?
ReplyDeleteI think the Market Day did give me the opportunity to demonstrate my knowledge, and I think it was even better than a test. First of all, the whole section where I had to calculate the total cost, conversion from won to dollars, and finding whole sale and retail price, gave me a full understanding of what wholesale, and retails prices are. Also, while I was solving to buy the products, I got a chance to learn from my mistakes when I got some of them wrong, even simple mistakes like adding things in the wrong order. I think it was a pretty good test grade, because basically, all the things I’ve learned in the chapters before had to be used for completing this project (even though I’m not really satisfied with my grade...) .
2. Name two things that could have made Market Day better.
One thing that could have made Market Day better would be if there was more different kinds of food to eat. Since we have a small class, it seemed like we had less kinds of food than the other class. Another thing that could have made Market Day better would be more time. I think we moved on sort of too quickly, and I really didn’t even have time to eat the things I bought.
3. By this point, you should understand a wide variety of percent applications. Name one new concept you learned.
I learned what, and how the whole sale and retail prices are made. Before our class started learning about these things, I only knew that the price of the item in the mall was more expensive than the before price, and I didn’t even know what they were called. I just basically thought that the market chose random prices, and I also had no idea why Costco was way more cheaper than E-mart.
4. After completing the Market Day project, you should have a good idea of the important decisions that help businesses make profit. What three decisions do you think were the most crucial to a successful business plan (making profit)? Explain each.
One good decision I made was to only make 10 of my product. Therefore, I only had one leftover, giving me a larger profit than some people who brought in about twenty products, and had almost ten left overs. Another good decision was to make sure that I was making a different product from everyone else in my class, so that there won’t be a competition. One bad decision I think I made was when I changed the price of my item later on in that day, I think I made the price go up to little, because after that time, two people had bought my product, and if I sold them in a more expensive cost, I would have earned more money.
1. Did you think that Market Day gave you the opportunity to demonstrate your knowledge (do you think it was a good test grade)? Why or why not?
ReplyDeleteYes, I think that the Market Day gave me the opportunity to demonstrate my knowledge. I was able to learn more about business and how to make profit and many other important things you might need to know in the future. I think my test grade was fine, except for the word problem test! I think my phase one test was good because I got most of the things right, there weren’t any word problems unlike the word problem test.
2. Name two things that could have made Market Day better.
We could’ve had more time to eat
We could’ve spent money for buying things instead of solving problems, then it would’ve been more realistic.
3. By this point, you should understand a wide variety of percent applications. Name one new concept you learned.
I learned about how to make a proper choice of bulk price.
After completing the Market Day project, you should have a good idea of the important decisions that help businesses make profit. What three decisions do you think were the most crucial to a successful business plan (making profit)? Explain each.
I think the three most crucial decisions to a successful business plan was to make a good choice of bulk price, choice of how many servings you should bring and a reasonable retail price, not to pricy but not to cheap.
1. Did you think that Market Day gave you the opportunity to demonstrate your knowledge (do you think it was a good test grade)? Why or why not?
ReplyDeleteYes, I think that the Market Day gave me the opportunity to demonstrate my knowledge. I was able to learn more about business and how to make profit and many other important things you might need to know in the future. I think my test grade was fine, except for the word problem test! I think my phase one test was good because I got most of the things right, there weren’t any word problems unlike the word problem test.
2. Name two things that could have made Market Day better.
We could’ve had more time to eat
We could’ve spent money for buying things instead of solving problems, then it would’ve been more realistic.
3. By this point, you should understand a wide variety of percent applications. Name one new concept you learned.
I learned about how to make a proper choice of bulk price.
After completing the Market Day project, you should have a good idea of the important decisions that help businesses make profit. What three decisions do you think were the most crucial to a successful business plan (making profit)? Explain each.
I think the three most crucial decisions to a successful business plan was to make a good choice of bulk price, choice of how many servings you should bring and a reasonable retail price, not to pricy but not to cheap.
1.Yes, I do think that Market Day did test out my knowledges. The reason is because we get to solve other people’s questions in order to get the food you want and it had helped me review the things which I was confused at such as getting the percentage of change.
ReplyDelete2.Two things that could have made the Market Day better was to join classes which would make more people bring in food which would make everyone get a chance to eat more food. Another thing which could have made the Market day better is to add some music so that we can enjoy ourselves while solving and eating the food.
3.One of the new concept I learned was getting the price of an item with tax or discount.
4.Three decisions which I thought that was most crucial to the business plan were making retail price, deciding what kind of food to bring, and choosing the location of the place where I would sell my product.
Making retail price: If it was too high, people would not buy mine and I would actually lose money if no one buys my product after a high mark up. However, if my retail price is too low, then I would lose money even though I sell everything.
Deciding Food: This was the choice which made me think over and over again. The reason is because I needed to make a food which everyone liked. If it was not the one which people liked, then I would not have been able to sell my product efficiently.
Location: This would be also important because if I set up my product in the corner and where people could not see well, then people have less chance to buy my item if I was in the corner. However, I was located right in the middle which made my product sold out pretty quick.