Revenue, costs and profits (OCR GCSE Business): Quizzes
📚Quizzes
Practise the questions
12 questions from this quiz
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Practise the questions
12 questions from this quiz
What is the formula to calculate revenue?
What is the formula to calculate revenue?
Quantity sold × selling price
Which is a way to increase revenue?
Which is a way to increase revenue?
Do advertising of the product
What are fixed costs?
What are fixed costs?
Costs that don't change with output
What are variable costs?
What are variable costs?
Costs that change with output
What is the formula for total costs?
What is the formula for total costs?
Fixed costs + variable costs
Which of these is an example of a fixed cost?
Which of these is an example of a fixed cost?
Rent
Which is an example of a variable cost?
Which is an example of a variable cost?
Raw materials
How is profit calculated?
How is profit calculated?
Total revenue - total costs
If costs exceed revenue, what has occurred?
If costs exceed revenue, what has occurred?
A loss
How is net profit calculated?
How is net profit calculated?
Gross profit - expenses
What is the gross profit margin formula?
What is the gross profit margin formula?
(Gross profit × 100) / total revenue
What does ARR stand for?
What does ARR stand for?
Average Rate of Return