2.2.2 Sales Revenue And Cost Flashcards

1
Q

Define sales volume

A
  • Sales volume is the amount of sales expressed as a number of units sold
  • e.g. 20 tonnes of wool
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2
Q

Define sales revenue

A
  • Sales revenue is the amount of sales expressed as the total sum of money spent by consumers. It is the income earned by a business over a period of time, eg one month.
  • e.g. £3 million expenditure on clothing
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3
Q

How can sales volume be calculated

A

Sales revenue / selling price

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4
Q

How can you calculate sales revenue

A

Selling price x quantity sold

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5
Q

Define revenue

A

Is the money coming in form the sales of goods and services

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6
Q

How do you calculate revenue

A

Selling price x quantity sold

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7
Q

How does revenue look like in a graph

A

Starts at 0 and slopes upwards /

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8
Q

How does fixed costs look like on a graph

A

Stays the same regardless of output so goes in a straight line -

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9
Q

How does variable costs look like on a graph

A

Starts at 0 and slopes up wards

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10
Q

How do you calculate total variable costs

A

Average variable cost x number of units

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11
Q

How do you al image total costs

A

Fixed costs + total variable costs

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12
Q

How does total costs look like on a graph

A

Starts at fixed costs and slopes upwards

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