Costs and revenues

_____ refers to the cost per unit of output. It is calculated by using the formula: ____ = TC / Q, where TC is total cost and Q is quantity

• Set-up cost

• Direct cost

• Average cost

• Total cost

___ refers to the value of sales received from the customers per unit sold. It is calculated by the formula: ___ = TR / Q, where TR is total revenue and Q is quantity

• Average revenue

• Indirect revenue

• Revenue stream

• Dividends

___ refers to the sum of money incurred by a business in the production process, e.g. cost of raw materials. wages, salaries etc

• Total cost

• Average cost

• Cost

• Set-up cost

____ are costs specifically attributed to the production or sale of a particular good or service and can be traced back to the product

• Average cost

• Direct costs

• Running cost

• Semi-variable cost

___ are a share of the net profit distributed to shareholders at the end of the year

• Fixed profit

• Revenue stream

• Dividends

• Prices

___ are the costs that do not vary with the level of output. They exist even if there is no output, e.g. rent, management salaries and interest payments on loans.

• Semi-variable cost

• Direct cost

• Fixed cost

• Set-up cost

___ are costs that do no directly link to the production or sale of a specific product, e.g. rent, wages, electricity etc

• Running costs

• Average costs

• Set-up costs

• Indirect costs

___ refers to the amount that a product is sold for.

• Revenue

• Price

• Cost

• Total revenue

___ is the money a business collects from the sale of its goods and services. It is calculated by multiplying the unit price by the quantity sold.

• Running costs

• Revenue

• Prices

• Dividends

___ refers to the money coming into the business from its various business activities, e.g. sponsorship deals, merchandise, membership fees and royalties.

• Prices

• Revenue stream

• Profit centres

• Average revenue