Answer:
Basically a reduction in price
Step-by-step explanation:
In finance, a markdown is a reduction in the price and value of an asset. ... Markdowns are designed to increase sales, so they usually occur when a business cannot sell a product at its current price. By reducing the price, a markdown makes a good or service more desirable for customers.
A markdown is a devaluation of a product based upon its inability to be sold.
