

3.3 Costs and Breakeven IGCSE
Flashcard
•
Business
•
10th Grade
•
Practice Problem
•
Hard
Jim Bevan
FREE Resource
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7 questions
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1.
FLASHCARD QUESTION
Front
Break-even chart
Back
A graph that shows total cost and total revenue; break-even point is where total cost and total revenue intersect.
2.
FLASHCARD QUESTION
Front
Break-even point
Back
The level of output where total costs and total revenue are exactly the same: neither a profit nor a loss is made.
3.
FLASHCARD QUESTION
Front
Cost plus or cost-based pricing
Back
Adding a percentage (the mark-up) to the costs of producing a product to get the price.
4.
FLASHCARD QUESTION
Front
Costs
Back
Expenses that must be met when setting up and running a business.
5.
FLASHCARD QUESTION
Front
Fixed costs
Back
Costs that do not vary with the level of output.
6.
FLASHCARD QUESTION
Front
Fixed capital
Back
Stock of human-made resources, such as machines and tools, used to help make goods and services.
7.
FLASHCARD QUESTION
Front
Variable costs
Back
Costs that change when output levels change.
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