You own a lawn-care business and you have two employees. You pay these employees a salary meaning you pay each of these workers $900 every month no matter how much they work. This is an example of a...
Cost of Production

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Other
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8th Grade - University
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Hard
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1.
FLASHCARD QUESTION
Front
Back
fixed cost
2.
FLASHCARD QUESTION
Front
You own a restaurant and every month you must pay your water bill. However, you never know how much that bill will be because the amount changes based upon how much water your business uses. This is a...
Back
variable cost
3.
FLASHCARD QUESTION
Front
Which of the following is the best definition of costs? Options: The total amount of income a business makes from selling products or services. The amount of money a business has left over after paying for materials. The total amount of money a business spends.
Back
The total amount of money a business spends.
4.
FLASHCARD QUESTION
Front
How much profit was made? Buy a toy for RF 100. Sell it for 400.
Back
RF 300
5.
FLASHCARD QUESTION
Front
Kelly makes and sells quilted blankets out of her home. She charges $50 per blanket. For each blanket she makes, she must spend $1 on thread, $2 in electricity and $12 on cloth. This month she made and sold 15 blankets. What is Kelly's total cost?
Back
$225
6.
FLASHCARD QUESTION
Front
Kelly makes and sells quilted blankets out of her home. She charges $50 per blanket. For each blanket she makes, she must spend $1 on thread, $2 in electricity and $12 on cloth. This month she made and sold 15 blankets. What is Kelly's total revenuerevenue?
Back
$750
7.
FLASHCARD QUESTION
Front
If you own a home, you must pay for electricity you use. The amount you pay changes every month depending on how much you use. This is an example of a...
Back
variable cost
8.
FLASHCARD QUESTION
Front
Which of the following is the best definition of profit? Options: The total amount of income a business makes from selling products or services, The total amount of money a business spends.
Back
The amount of money a business has left over after paying for their costs.
9.
FLASHCARD QUESTION
Front
What is the best definition of revenue?
Back
The total amount of income a business makes from selling products or services.
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