Markup
A markup is the amount a retailer adds to a product's cost to cover the shop's own costs and profit.
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DefinitionYour turn
If you send money internationally with a big bank, they’ll charge you an exchange rate markup. If you buy a t-shirt at a store, you’ll pay the store a markup: you’ll pay more than the t-shirt costs them. The difference in both these cases is the “markup”: the amount one company adds to the price of a product or service to cover its own costs and its own profit.