Directions: Read and understand the statements. Write “True” if the statement is correct and
“False” if the statement is incorrect. Write your answer on the space provided before each
number
1. Mark-up is the amount added to the product price to get the selling price.
2. Sales is the money earned from the sale of the product or service.
3. Be familiar with the prevailing prices of food similar to what you are about to sell.
4. Consider the customer's desire and business goals in terms of product quality.
5. Disregard competitors of your business.
6. Short - term goals is better that long-term goals in business.​