1
Q
how to make a profit
A
make sure income exceeds the costs
2
Q
what are fixed costs
A
these are costs that do not change as the output or sales change.
3
Q
what are variable costs
A
costs that are directly related to the level of output of sales. they increase when output increase.
4
Q
how to calcualate total costs
A
fixed costs + variable costs
5
Q
what is unit cost
A
the cost of producing one product
6
Q
how to calcualate unit cost
A
total cost/output
7
Q
what is marginal cost
A
the cost of producing one extra unit
8
Q
what is opportunity cost
A
this is related to what the business could’ve spent their money on.
9
Q
how to calculate average revenue
A
total revenue/number of sales
10
Q
A
Business Studies
flashcards
Decks in class (47)
# Cards
-
chapter 4415
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Chapter 4522
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chapter 4933
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chapter 4643
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chapter 4729
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Chapter 4827
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chapter 5025
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a level guide5
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Chapter 5122
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chapter 5222
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chapter 537
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chapter 5410
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chapter 5511
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chapter 136
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chapter 566
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chapter 575
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chapter 24 *15
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chapter 2610
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chapter 274
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Equations32
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Chapter 41 ( Human Resource Management) Organisation18
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Chapter 42 (human Resource Management) Communication21
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Chapter 2 Business Ectors And Types Of Business25
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Chapter 3 Franchises And Co Operatives12
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Accounting And Finance Flashcards4
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Chapter 4 Business Size, Growth And External Growth29
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Chapter 5 Stakeholders14
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AS Spec9
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Mocks0
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Mocks2
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Chapter 1 Enterprise And Business Functions14
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Chapter2 Business Sectors And Types Of Business21
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Chapter 3 Franchises And Co Operatives17
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Chapter53
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Chapter 4 business size growth, and external growth11
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Introduction To Business17
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Different Objectives And Strategy44
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Introduction To Business3
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Introduction To Business1
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Introduction To Business19
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Business Objectives And Strategy26
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Introduction To Business8
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Business Objectives And Stratergy10
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Theories13
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Introduction To Business24
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Business Objectives And Strategy10
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Business Obectvies And Strategy2
