Ch 31 - Key terms

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  • Created by: angus f.v
  • Created on: 03-12-14 12:02
Break even
The level of output where total costs and total revenue are exactly the same. Neither a profit nor loss is made
1 of 3
Break-even chart
A graph which shows total cost and total revenue. The break-even point is where total cost and total revenue intersect.
2 of 3
Margin of safety
The amount of output available ti be sold above the break-even point where the business makes a profit
3 of 3

Other cards in this set

Card 2

Front

A graph which shows total cost and total revenue. The break-even point is where total cost and total revenue intersect.

Back

Break-even chart

Card 3

Front

The amount of output available ti be sold above the break-even point where the business makes a profit

Back

Preview of the back of card 3

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