Money Transactions The four basic math operations are essential to understand transactions and calculate profits and losses. On every transaction, from paying your grocery bill to making an investment, a certain amount of money is removed from one budget to another. Hence, a transaction always includes a subtraction from the buyers budget and an addition to sellers budget. In cases of mass payments, such as during a monthly payday or when people buy tickets for a concert, you can multiply the value of individual tickets or paychecks by the number of spectators or employees. This way you can find the total cost of a payroll or the total gate earnings. Identifying Market Trends Market analysis is one of the core elements of a business plan. Understanding the needs of a consumer base, as well as your competitors strengths in the market is knowledge that can give an edge to your business. You must analyse data from questionnaires, as well as from official sources like the Census Bureau and use your statistical skills to group them and convert them into percentages to discover the consumers trends and your piece of the market pie chart. Read more: ehow/info_8150725_importance-mathematics-business-economics.html#ixzz2uzQ7twxg
Posted on: Tue, 04 Mar 2014 10:45:03 +0000
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