noun · academic
markup
UK/ˈmɑːkʌp/US/ˈmɑːrkʌp/MARK·up
Band 6-7task2speaking
the amount added to the cost price to determine the selling price
Examples
“Retailers often apply a markup to cover overheads.”
“The markup on electronics this season is unusually high.”
“The wholesale price plus a markup equals the retail price.”
Band 8 sentence
“Manufacturers set a wholesale price, and retailers add a markup to cover overheads.”
Collocations
- high markup
- apply a markup
- markup on
Word family
markup nounmark up phrasal verbmarked-up adjective
Common mistakes
The shop markuped the price.→The shop marked up the price.
Markup is the same as tax.→Markup is the added amount for profit; tax is a government charge.
Say it for a higher band
5extra cost→6price increase→7+markup
Synonyms
margin
surcharge
Easily confused
margin
“Retailers often add a markup or margin to cover costs.”
Related words
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In Shopping & Money
Learn it with its set