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Business component 1 > formulas > Flashcards

formulas Flashcards

1
Q

revenue

A

selling price x quantity sold

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2
Q

profit

A

total revenue - total costs

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3
Q

break even point

A

fixed costs/contribution per unit

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4
Q

margin of safety (MOS)

A

actual sales - break even level of output

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5
Q

elasticity of demand (PED)

A

percentage change in quantity of deman/ percentage change in price

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Business component 1 (4 decks)

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