Markup and Markdown Concepts

Mr. Reeves introduces module 5 on proportions and percent, focusing on lesson 5.2 about rewriting percent expressions. The video reviews percent increase and decrease, then introduces markups and markdowns. It explains using variables in calculations, simplifying expressions, and concludes with a preview of the next video.

What happens to the value when there is a percent increase?

• The value decreases.

• The value remains the same.

• The value increases.

• The value becomes zero.

In the context of markups, what does the term 'coefficient' refer to?

• A percentage of the original cost.

• A number multiplied by a variable.

• A variable representing the original cost.

• A constant value added to the price.

How can you represent a markup using variables?

• By subtracting the markup from the original price.

• By adding the markup to the original price.

• By dividing the original price by the markup.

• By multiplying the original price by the markup.

What is the purpose of using a variable in markup and markdown calculations?

• To represent a fixed value.

• To represent an unknown or changing value.

• To eliminate the need for calculations.

• To simplify the original price.

How do you convert a percentage to a decimal for calculations?

• Add a zero at the end.

• Multiply by 100.

• Move the decimal point two places to the left.

• Divide by 10.

What is the result of a markdown on the original price?

• The price doubles.

• The price decreases.

• The price remains unchanged.

• The price increases.

Which of the following is true about a markup?

• It decreases the original price.

• It results in a shorter bar model.

• It increases the original price.

• It has no effect on the original price.

When simplifying expressions, what does a coefficient greater than one indicate?

• A price equal to zero.

• A decrease in price.

• An increase in price.

• No change in price.

What does a coefficient less than one signify in a markdown?

• The price is doubled.

• The price is increased.

• The price is decreased.

• The price is unchanged.

What is the simplified expression for a 20% markdown on price 'p'?

• 1.2p

• p - 0.8p

• p + 0.2p

• 0.8p