Costs, revenues and profit

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FC
costs that do not vary with output
1 of 7
VC
costs that vary directly
2 of 7
TC
total fixed costs + total variable costs
3 of 7
P
total revenue - total costs
4 of 7
O
the number of goods or services provided by a firm
5 of 7
TR
price x quantity sold
6 of 7
C
money a business spends on running a business
7 of 7

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Card 2

Front

VC

Back

costs that vary directly

Card 3

Front

TC

Back

Preview of the front of card 3

Card 4

Front

P

Back

Preview of the front of card 4

Card 5

Front

O

Back

Preview of the front of card 5
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