Calculating Costs, Revenue And Profit Flashcards
0
Q
Total revenue
A
A measure of the income received from an organisations activities
1
Q
Price
A
Amount paid by a consumer to purchase 1 unit of a product
2
Q
Total costs
A
Fixed costs + variable costs
3
Q
Fixed costs
A
Salaries
Vehicles
Rent and rates
4
Q
Variable costs
A
Raw materials
Power
Wages
