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2. What is the equation for profit?

  • VC + FC
  • TR X VC
  • TR - TC
  • TC - TR

3. What is te correct example of variable costs?

  • Wages
  • Rent
  • Insurance
  • Business rates

4. What is the equation for breakeven?

  • Fixed cost/ (Selline price per unit - VC per unit)
  • Fixed cost/ ( TR - TC)
  • Fixed cost/ ( Quantity sold - VC per unit?
  • Fixed cost/ (Quantity sold x VC)

5. What is capital?

  • Moeny given to workers
  • Money that the owners earn
  • Money invested by an owner into the business
  • Profit made by the business
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