business

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what is a startup cost?
costs which need to be paid when starting up a business.
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What is a budget?
Budgets predict how much money a business is going to spend.
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What is breakeven?
The breakeven point is when the total revenue reaches the exactly the same ammount as the total costs and the business is neither making a loss or a profit.
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what is a fixed cost?
Fixed costs are the same no matter how much of the product a business makes.
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What are variable costs.
will be higher if the business makes more of their product and lower if they make less.
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what is the formula for total costs?
fixed costs + variable costs
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Other cards in this set

Card 2

Front

What is a budget?

Back

Budgets predict how much money a business is going to spend.

Card 3

Front

What is breakeven?

Back

Preview of the front of card 3

Card 4

Front

what is a fixed cost?

Back

Preview of the front of card 4

Card 5

Front

What are variable costs.

Back

Preview of the front of card 5
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