Have you ever wonder why a $45 Nike Shoes are being sold at $100 in the market? Or a text messages get marked up to nearly 6,000% more than they're worth? In any retail business, margin is king. Therefore, in this module, we will examine the cost profit effects of how a continuous value adding process will increase the final pricing of a product. By understanding the concept of cost profit effects and also our previous modules about sharing economy, O2O, E-commerce and resource integration, we are able to optimize our money creatively. Next, we will look into the concept of local economy and velocity of money of how it brings positive influences to the businesses and lives of the people by studying the real-life application of Brixton Pound. Finally, we will also discuss a new form of currency which is virtual currencies circulate within internal online communities.
At the end of the workshop, participants will be able to:
-Understand the concept of cost profit effects
-Understand of how does a local economy works
-Describe the principle of velocity of money
-Evaluate the benefits of local currency
-Understand the benefits of virtual currency
You will also explore a few real-life case studies of local currency such as Brixton Pound.