Week 6

Micro society

Profit and Loss

PROFIT AND LOSS

What is a profit?

A profit is a financial gain between the money you have spent and earned. For example, if the cost price was £10.00 and you sold it for £20.00 ,you have made a £10.00 profit-the sequel to a 50% profit.

What is a loss?

A loss is a financial decrease made in a business between the money you have earned and spent. For example, if the cost price was £20.00 and you sold it for £10.00 ,you made a £10.00 loss -the sequel to 100% loss.

What did we do?

First ,we discussed whether we were making a loss or a profit in our business. At first, we were making a loss but slowly it changed to a profit. To us ,if you were making a profit ,it meant that you were successful and a loss meant that you were unsuccessful.

What was happening during the time of micro society?

It was the general election!!!A general election is the election where you can choose which party you would prefer to form a government .A constituency is an area and each constituency gets to vote on an MP they would like to have. The three main parties are: the conservatives, the liberal democrats and labour. Each party have to win a majority of seats to form the government. The majority for this election was 326 seats. A hung parliament is where no parties reached the majority line and that is what happened this year. The closest to the majority line was the conservatives with 317 seats. In the end, the conservatives united with the D.U.P. (Democratic Unionist Party)to form the government. We watched a short video explaining the general election:

http://www.parliament.uk/education/teaching-resources-lesson-plans/the-general-election-explained8minutes/

That is the video, above.

I have enjoyed this week so much especially the talk on the general election because I love politics.