Other questions in this quiz

2. How do you calculate total revenue?

  • Quantity sold x Average profit.
  • Quantity sold x Average price.
  • Quantity sold x Average cost.

3. When is a business making loss?

  • When revenues are less than costs.
  • When revenues equal costs.
  • When revenues are less than costs.

4. When is a business making a profit?

  • When revenues are higher than costs.
  • When revenues equal costs.
  • When revenues are less than costs.

5. An increase in output does not mean an increase in:

  • Direct costs.
  • Overheads.
  • Variable costs.

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