sales, revenue and cost Flashcards
1
Q
what is sales volume
A
number of units sold
2
Q
what is sale revenue
A
value of output sold
sales volume X price per unit
3
Q
what are fixed costs
A
costs that do not vary with level of output
4
Q
what are variable cost
A
costs that vary with level of output
5
Q
how can a business increase revenue
A
aim to sell more or sell at a higher price
or charge a lower price in attempt to sell as many units as possible
