Please use the following format while giving an answer:
i) Define Mark-up?
ii) Explain Mark-up using example
iii) Real life Business Scenario where calculating the Mark-up can be useful?
iv) Mention the website where you find this information.
HINT: While giving explanation of any topic, we use features, advantages and disadvantages of the given term.
Mark up refers to the value that a player adds to the cost price of a product. The value added is called the mark-up. The mark-up added to the cost price usually equals retail price.