Definitions and Examples of surcharge, markup
Learn when and how to use these words with these examples!
An additional charge or fee added to the original cost of a product or service.
Example
The hotel charged a surcharge for late check-out.
The amount added to the cost price of a product to determine its selling price.
Example
The store's markup on electronics was higher than its competitors.
Key Differences: surcharge vs markup
- 1Surcharge is an additional fee added to the original cost of a product or service, while rebate is a partial refund of the original cost.
- 2Markup is the amount added to the cost price of a product to determine its selling price, while rebate is a discount given after the purchase.
Effective Usage of surcharge, markup
- 1Shopping: Use rebate to refer to a discount given after the purchase, and surcharge or markup to refer to an additional fee added to the original cost.
- 2Business: Use surcharge or markup to refer to additional costs or fees added to the original price of a product or service.
- 3Finance: Use rebate to refer to a partial refund of the original cost, often used in tax returns or cashback offers.
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Remember this!
The antonyms have distinct meanings: Surcharge and markup refer to additional costs or fees added to the original price, while rebate refers to a discount given after the purchase. Use these words in shopping, business, and finance contexts to convey the appropriate meaning.
