Break-even Recap

Revenue is...

• the income earned by a business over a period of time

• the income minus expenses

• the Gross Profit made

• the Net Profit made

Revenue =

• Price - Quantity Sold

• Price X Quantity Sold

• Price / Quantity Sold

• Profit - Expenses

the total revenue raised by selling 20 items priced £10 each is...

• £200

• £20

• £30

• £220

Costs are

• All expenses involved in making a product.

• what the products cost to buy

• the expenses

• the cost of sales

Costs that stay the same, no matter how much produced are...

• Fixed Costs

• Variable Costs

Costs that change with the amount produced...

• Fixed Costs

• Variable Costs

Long term Loan repayment

• Fixed Cost

• Variable Cost

Raw Materials

• Fixed Cost

• Variable Cost

Labour for casual workers

• Fixed Cost

• Variable Cost

Salary wages for permanent workers

• Fixed Cost

• Variable Cost