Other questions in this quiz

2. What is revenue sometimes called?

  • Turnover.
  • Overheads.
  • Price.

3. What does 'total cost' mean?

  • The total expenses of a firm.
  • The total income earned by a firm.
  • The total amount of profit earned by a firm.

4. How do you calculate total revenue?

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

5. How do you calculate profit?

  • Subtracting total costs from total revenue.
  • Multiplying the quantity sold by price.
  • Subtracting total revenue from total costs.

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