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An income statementsummarizes a businesss revenue, costs, and expenses during a specific time period, such as a month, a quarter, or a year. Check availability Students will understand how apartment location, transportation, and their schedule must work together. Students will see how payroll taxes and income tax deductions cause their net pay to be less than their gross pay. Virtual Business - Personal Finance online simulation learns key personal finance concepts. Understand the many ways fashion designers detect fashion trends - fashion shows, top models, fashion weeks, and street fashion trends. Students will be able to determine whether they expect a surplus or deficit in their budget. If your competitors have much higher distribution indexes than you, then you will lose more market share. As new fashion comes into the store, fashion retailers markdown older items while always retaining some profit margin. Vendors of bikes can be broken into three categories: (Note: Sports Stores are only available in Multi-Player in MikesBikes Advanced). Customer comments could reveal something you are missing, like low inventory or perhaps your pricing is way too low. You will probably get excellent coverage, a high proportion of consumers will remember your production, and you will have high advertising or PR indexes. Assets are anything of economic value that a business owns, and they can be classified as current assets or fixed assets. This may not be an issue in the Commuter market, but it may disadvantage you in the other market segments. The Simulations excite her about learning business through fashion and retail since that is something she is passionate about. Next, they shop for insurance and explore the relationship between the deductible and the premium. After they reach another target net worth, they can purchase a condo and explore real estate as an investment. Students gather information for their tax return and fill out a 1040EZ form. Use consumers impulse and needs purchase behavior to design a profitable store. To download free take control of your knowledge matters, inc.you need to register. Appreciate the delicate balance between scheduling too many or too few employees. Students also learn the delivery schedules involved in ordering fashion. According to current research, opportunity for growth and development are still two of the most powerful motivators. Recognizing Demonstrative and Relative Pronouns. In addition, another negative outcome of this is an increase in staff turnover rate, which means your products quality will also suffer. Identify key financial measurements - gross sales, allowances, net sales, cost of goods sold (COGS), etc. Students find the bank with the best interest rate on FDIC-insured savings deposits. You need to remember that the wholesale price is retail price minus the retailer margin, so its possible that a cheaper product than yours might have a higher wholesale price if that firm has lower retail margins. The quality rating is a measure of how many units of your product are returned under warranty. (5 hours). Students will be able to use higher education to advance their careers. The instructor utilized "simulations" via Knowledge Matters. They then try to buy a car and experience the difficulties created by poor credit. Here's some tips: 1. Students will be able to read a pay stub and understand gross pay, payroll deductions. forceintoactione. Powered by Knowledge Matters Virtual Business -Retailing is our bestseller sim of all time. Vocab terms for the Shopping lesson on Knowledge Matters. The instructional time for FASHION