Topic One: Costs and Making a Profit

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  • Start up costs: Payments made before the start of a project and only occur once
  • Running costs: Begin once the business has opened and occur regulary
  • Fixed costs: These don't change depending on the number of units made. They will stay the same.
  • Variable costs: These change depending on the number of units made (A good way to remember this is remember that VARIable costs VARY)
  • Direct Costs: Go straight into making a product e.g. Ingredients for


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