business

Characteristics of a successful entrepreneur

• Usain bolt

• love

• shrewed

• Integrity

• happiness

The breakeven point is where which 2 lines meet?

• Total Costs

• Variable Costs

• Fixed Costs

• Total Revenue

Two of these formulas are correct for working out the break-even point. Which two

• Fixed Costs / Contribution Margin per unit

• Total Costs - Fixed Costs x variable costs per unit

• Fixed Costs / Sales price per unit - variable costs per unit

• Contribution Margin per unit / Fixed Costs

They want to make a profit on the money they have invested in the business.

• customers

• managers

• government

• owners / shareholders

They try to make sure that the business achieves all of its objectives.

• lenders

• managers

• local communities

• suppliers

Anna runs a photography business. She has the following costs

Fixed costs = £30,000

Variable cost = £200 per photo shoot

Selling price: = £1000 per photo shoot

She predicts sales of 140 photo shoots for the year

What is the Total Contribution?

• £112 000

• £112 500

• £375

• £800

They want to buy quality goods from a business for a fair price.

• employees

• lenders

• customers

• managers

If a business's sales double, its variable costs will also likely

• remain the same

• decrease

• double

• fall

They supply products to a business (For example: coffee beans and milk to make a cup of coffee)

• lenders

• suppliers

• managers

• government

Is this ...

• Price?

• Place?

• Promotion?

• Product?