1.3- Revenue, costs and profit

1.3- Revenue, costs and profit

8th - 11th Grade

12 Qs

quiz-placeholder

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1.3- Revenue, costs and profit

1.3- Revenue, costs and profit

Assessment

Quiz

Business

8th - 11th Grade

Medium

Created by

Mrs Chrimes

Used 206+ times

FREE Resource

12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Revenue

Income from selling products or services

The money being paid out for bills

The money kept by an entrepreneur after costs are paid

The selling price of each of the items

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a fixed cost

Costs that changes with output

Costs that remains the same regardless of output

Costs that change every 6 months

Costs that an entrepreneur fixes in for 12 months

3.

MULTIPLE SELECT QUESTION

2 mins • 1 pt

Which two of the following are fixed costs

Rent

Raw materials

Electricity

Water

Advertising

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A variable cost changes with output (the more you make the more it costs)

True

False

5.

MULTIPLE SELECT QUESTION

2 mins • 1 pt

Which two of the following are variable costs

Raw materials

Rent

Insurance

Water

Advertising

6.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Calculate the revenue if a business sells 20,000 units at £2 each

£4000

£40,000

$40,000

£400,000

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Calculate the revenue if a business sells 80,000 units at $2.50 each

$200,000

£200,000

£20,000

$20,000

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