revenue, costs and profit 0.0 / 5 ? Business StudiesBusiness case studiesGCSEAQA Created by: xo.beckyCreated on: 23-05-19 13:12 what is revenue ? revenue is the income earned by a business 1 of 9 what is a cost ? costs are the expenses paid out to run the business 2 of 9 how do business make a profit ? businesses make a profit if they earn more then they spend 3 of 9 if costs are higher to revenue what will happen to the business ? the business will make a loss instead of a profit 4 of 9 how does a business earn most of its income ? they earn most of their income by selling their products to customers 5 of 9 how do you work out the revenue ? revenue = sales x price 6 of 9 how do you work out the total costs ? total cost = variable cost + fixed costs 7 of 9 how do you work out the average unit cost ? average unit cost = total cost devided by output 8 of 9 how do you work out the profit ? profit = revenue - costs 9 of 9
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