Business Costs 0.0 / 5 ? Business StudiesFinanceGCSEAQA Created by: elliemaebrennanCreated on: 02-05-16 12:56 1) Profit = ....... - .... revenue ... cost 1 of 18 2) Sales = number of ..... sold units 2 of 18 3) Revenue = ..... x ..... sales ... price 3 of 18 4) costs = the expenses paid ... to run the business out 4 of 18 5) Costs can be ...... or ........ direct ... indirect 5 of 18 6) Direct costs: e.g labour, raw ......... + ......... materials ... machinery 6 of 18 7) Indirect costs: general ......... (e.g telephone ..... , s....... , r... overheads ... bills ... salaries ... rent 7 of 18 8) Costs can be ..... or ........ fixed ... variable 8 of 18 9) Fixed - have to be .... even if the firm produces ....... paid ... nothing 9 of 18 10) Fixed - mostly ........ costs indirect 10 of 18 11) Variable - costs that will ........ as the firm ....... output increase ... expands 11 of 18 12) Variable - mostly ...... costs direct 12 of 18 13) Some costs are ....-........ (e.g most workers have a basic ...... and only part of their pay is linked to ......) semi-variable ... pay ... output 13 of 18 14) Fixed costs are only ..... for a ..... period of .... fixed ... short ... time 14 of 18 15) Average cost = ..... cost ÷ ...... total ... output 15 of 18 16) To make a ...... the firm must charge a higher price than the ....... cost profit ... average 16 of 18 17) ....... costs usually fall as the firm gets ...... because of economies of ..... Average ... bigger ... scale 17 of 18 18) Profit = ....... - ..... revenue ... costs 18 of 18
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