Title: Calculate gross and net profit.
Course: Strategic Marketing (formerly Marketing, Advanced) (12152) > Section: Pricing Products and Services

Calculation should include income minus cost of merchandise and operating expenses.

Process/Skill Questions:

- What is the relationship between a business’s markup and its gross profit?
- What does bottom line mean?
- What is the difference between gross and net profit?  Which is true profit?
- What are typical operating expenses?