Costs & Revenue (Leaving Cert Business): Flashcards

Expenses a business pays to operate & produce goods/services

Expenses that stay constant regardless of production level

Rent, insurance premiums, salaries of permanent staff

Costs that change directly with production/activity level

Raw materials, direct labour wages, energy costs

Total money a business receives from its trading activities

A specific source of income for the business

Income from one-off purchases where customers pay once

Regular payments from customers for continued access

Profit = Revenue - Total Costs