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Simple English definitions for legal terms

markon

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A quick definition of markon:

Markon: Markon is a percentage added to the cost of a product to determine its selling price. If the cost of a product is $10 and the markon is 20%, then the selling price would be $12. Further changes in price are called markups or markdowns.

A more thorough explanation:

Definition: Markon is a term used to describe the percentage added to a product's cost to determine its list price. Any further increase in price is called a markup, while a decrease is called a markdown.

If a product costs $50 to produce and the markon is 25%, the list price would be $62.50 ($50 + 25% of $50).
If a store wants to increase the price of a product by 10%, that would be considered a markup.
If a product is on sale for 20% off its original price, that would be considered a markdown.

These examples illustrate how markon is used to determine the list price of a product. By adding a percentage to the cost of production, businesses can ensure they make a profit on each sale. Markups and markdowns are used to adjust the price based on market demand and other factors.

markmoot | marksman

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 0 👎

ChowieBean

10:38

Very happy with LR other than having to guess on a couple questions cuz of time

ChowieBean

10:42

i have a question about my personal statement. in my activism for the hospitality workers' union, i organized and spoke up in favor of stronger regulations on airbnb because the unregulated spread of airbnb throughout LA was inflating housing costs for workers and threatening their job security. do you think it's too divisive to mention regulating airbnb? idk

Nostradumbass

10:44

I wrote mine about how all activists should be consolidated into a large smelting pot and refined down to a viscous goo

Nostradumbass

10:45

Expecting a lot of rejections though

ChowieBean

11:07

I'm sure you'll get a full ride to a few schools :P

HowlEngineer

11:11

The impression I get is most schools try not to judge based on the political implications of what you write about. They probably care more that you saw a problem and tried to fix it. That seems like a great thing to write a PS about @chowie

HowlEngineer

11:18

Besides, if a school didn’t let you in for trying to fix a problem you saw in your community, that doesn’t say great things about your school’s culture (assuming the thing you did showed good common sense judgment ofc)

HowlEngineer

11:19

That school’s* culture

ChowieBean

11:23

Thanks Howl you're right :D I def talked about solving problems in my PS

ChowieBean

12:03

@HowlEngineer: what's your dream school

MildChiller

12:08

"Have you applied for admission to [school] in a prior year" I applied in Oct. of the 23-24 cycle, should I put 23 or 24 as the year I applied?

MildChiller

12:09

Bcuz 2023 is when I technically applied but I applied for admissions in 2024

ChowieBean

12:14

2024 cuz that's when you would've been admitted

ErraticFearlessGecko

12:17

I agree with Howl

ChowieBean

12:19

Gecko what's ur dream school

ErraticFearlessGecko

12:20

Hard to say. I'm pretty firmly committed to the philly area so probably temple or villanova

ErraticFearlessGecko

12:20

Also relatively debt averse so I'd have to get a good scholarship from BC or Fordham to want to go but that's not very likely for me

ErraticFearlessGecko

12:21

Any advice? lol

[] baddestbunny

12:25

what’s a good scholarship for you? what would make BC or Fordham worth it?

ChowieBean

12:25

Hmmmm let me think

[] baddestbunny

12:25

fordham’s max aid they give is 45k per year

ErraticFearlessGecko

12:29

Bunny I can possibly get a 75%+ scholarship from villanova or temple, and I'd be moving back in with my parents if I went there so I'd have near-zero COL. It'd be really hard to beat that

ErraticFearlessGecko

12:29

I would prefer BC over Fordham just because I like boston more, but I'm expecting a WL there tbh

ErraticFearlessGecko

12:31

I would maybe consider BC with $ but I don't know how to decide if a better biglaw chance is worth the COL + higher tuition

Law01

12:50

How do I know if my status checkers are properly linked

HowlEngineer

12:59

@ChowieBean: right now, Michigan, but there are several that come close. How about you?

HowlEngineer

13:05

@Law01: I haven't gotten the status checkers to work at all. When I sent an email to the LSData folks the other week, they said they were working on fixing them

HowlEngineer

13:10

but I think "Last Checked" would change from "Never" to something else

ChowieBean

13:30

@HowlEngineer: I'll get more specific once I get my LSAT score, but NYU, Berk, GTown, UCLA

ChowieBean

13:30

Anywhere that's top for PI

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