Sales, Revenue and Costs (Edexcel A-Level Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What does sales volume measure?
What does sales volume measure?
The quantity of units sold
A company sells 1,000 units at £15 each. What is the sales revenue?
A company sells 1,000 units at £15 each. What is the sales revenue?
£15,000
OzzyTrek cut prices 20% in 2011. What happened to revenue despite selling more trips?
OzzyTrek cut prices 20% in 2011. What happened to revenue despite selling more trips?
Revenue fell
What defines the short run in business?
What defines the short run in business?
At least 1 factor of production is fixed
What happens to fixed costs when output is zero?
What happens to fixed costs when output is zero?
They must still be paid
Which of these is a variable cost?
Which of these is a variable cost?
Raw materials
A firm has fixed costs of £200k and variable costs of £300k. What is total cost?
A firm has fixed costs of £200k and variable costs of £300k. What is total cost?
£500,000
Total cost is £600k for 100k units. What is the average cost per unit?
Total cost is £600k for 100k units. What is the average cost per unit?
£6
Total revenue is £1.5m and total costs are £1m. What is the profit?
Total revenue is £1.5m and total costs are £1m. What is the profit?
£500,000 profit
Which cost is semi-variable?
Which cost is semi-variable?
Labour (salary + overtime pay)