Buss 2 2.5 / 5 based on 2 ratings ? Business StudiesASAQA Created by: Molly DiverCreated on: 01-04-13 17:22 What is Revenue? The money a business makes from sales 1 of 7 What's the formula for 'revenue'? Selling price per item X quantity of items sold 2 of 7 Another word for revenue? Turnover 3 of 7 What's the formula for 'profit'? Revenue - costs 4 of 7 What is net profit? What you get when you subtract fixed and variable costs from revenue 5 of 7 What are fixed costs? Costs that don't change with output; ie rent, salaries and bills 6 of 7 What are variable costs? Costs that rise and fall as output changes; ie hourly wages, raw material costs etc 7 of 7
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