what is meant by discount on an item?
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Usually a discount means a reduction of the price of an item. The discounts can be good for both customers and shopkeepers.
Assume a situation where an item of price $10 does not have good sales through out the year. So what shopkeeper can do is he can give a discount to the item and sell it to $7. When the price decreases the demand can increase. So shopkeeper sells all all his items while customer buy it at lower price. So both gets benefit.
For the previous situation if the shopkeeper buys that items to $5 by selling them to $7 he still have a profit. If he has bought them to $8 he have a lost. If he buys and sells the item to $7 he has no loss or gain.
Every time in discounts the customer seems to have some relief or kind of gain by acquiring the item at a lower price than it was before.
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