sales, revenue and costs 0.0 / 5 ? Business StudiesFinancial PlanningASEdexcel Created by: aleyshea darCreated on: 05-03-16 18:27 total revenue selling price x quantity sold in a given time period 1 of 9 costs payments a business makes to produce goods/service 2 of 9 fixed costs not linked to the level of output (how much is produced) e.g. rent, insurance. 3 of 9 variable costs linked to the level of output (how much is poduced) e.g. raw materials 4 of 9 total costs fixed costs + variable costs 5 of 9 profit sales revenue - total costs 6 of 9 average variable costs variable costs / output 7 of 9 average fixed costs fixed costs / output 8 of 9 average total costs total costs / output 9 of 9
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