Business - autumn 2 p2 Flashcards
1
Q
how do u find profit / loss per unit?
A
price per unit - total cost per unit
2
Q
how do u find break even?
A
fixed costs / (selling price per unit - variable cost per unit)
3
Q
what are the objectives using SMART?
A
specific, measurable, agreed, realistic, time bound
4
Q
how do u find the margin of safety?
A
actual sales - break even sales
5
Q
what is a fixed cost?
A
a cost that does not change with the output
6
Q
what is a variable cost?
A
a cost that changes with the output
7
Q
how do businesses add value?
A
brand name, high quality, speed / convenience, design, USP
