The Measurement Of Profit Flashcards
1
Q
What is profit?
A
Profit it the total revenue - the total costs.
2
Q
What is the measurement for profit?
A
Revenue - costs = profit
3
Q
What are other words for Revenue?
A
Sales & Turnover
4
Q
What is the definition for Revenue/ Sales/ Turnover?
A
The income received from all of the businesses sales added together.
5
Q
How do you measure revenue?
A
Price per unit X quantity sold = Revenue
6
Q
How could a business increase it’s revenue?
A
By charging more, Gaining a bigger market share, Increase how many units that you sell.
