Business Planning Flashcards
1
Q
Variable costs
A
a cost that varies with the level of output.
2
Q
Sales revenue
A
includes all sales of products and services
3
Q
Fixed costs
A
business costs, such as rent, that are constant whatever the amount of goods produced.
4
Q
Net profit
A
the amount of money your business earns after deducting all operating, interest, and tax expenses over a given period of time.
5
Q
Gross profit
A
the selling price of your product minus the cost of producing it
6
Q
Market research
A
•Who will buy the product? • Why will people buy?
• How big is the market?
