Revenue, Costs and Profit

The price at which goods or services are offered by a business to their customers is called

• Selling price

• Cost

• Variable cost

• Currency

Costs that must be paid regardless of how much of a good or service is produced. They do not change in the short term, regardless of output are called

• Variable costs

• Fixed costs

• Total costs

• The costs

Fixed Cost + Variable Cost =

• Breakeven point

• Total costs

• Fixed costs

• Variable costs

A negative difference between the revenues taken in by a business and the costs of operating a business (when a business spends more than it makes) :(

• Profit

• Breakeven

• Loss

• Closed

Costs that change based on the amount of goods and services produced.

• Total costs

• Fixed costs

• Variable costs

• Costs

A positive difference between the revenues taken in by a business and the costs of operating a business (when a business makes more than it spends). :D

• Loss

• Profit

• Breakeven

• Sales

Rent, administrative costs, insurance, employee salary are examples of ...

• Variable costs

• Fixed costs

• Costs

• Prices

Raw materials, packaging, wages/labour costs are examples of

• Total costs

• Fixed costs

• Variable costs

• Benefits

The income (amount of money) a business receives for in exchange for a product or service

• Costs

• Profit

• Loss

• Sales revenue

What is the equation for revenue?

• Price x Quantity
• Price x Profit
• Profit x Quantity
• Price + Quantity