Business Vocabulary

How do you find Revenue?

• Expenses - Profit

• Profit / Expenses

• price * quantity sold

• price + quantity sold

Rita owns a business selling gift boxes of cookies. Which of the following two items are VARIABLE COSTS?

• Ovens

• Rent & Utilities

• Packaging

• Ingredients

How do you find PROFIT?

• Revenue - Expenses

• price * quantity

• Revenue + Expenses

• price / quantity

Jonas has a business selling widgets.

His variable cost is $8 per widget and his fixed expenses total $400 per week.

Write Jonas' Expense Function. (Hint: E = Vq + F)

• E = 8q + 400

• E = 400q + 8

• E = 8 + 400q

Jonas has a business selling widgets.

He produces 250 widgets each week and sells all of them at a price of $25 per widget.

His variable cost is $8 per widget and his fixed expenses total $400 per week.

Find Jonas' weekly total Expenses

• $6250

• $2400

• $3850

• $8450

Jonas has a business selling widgets.

He produces 250 widgets each week and sells all of them at a price of $25 per widget.

His variable cost is $8 per widget and his fixed expenses total $400 per week.

Find Jonas' weekly Revenue. (Hint: R = p * q)

• $6250

• $2400

• $3850

• $8450

Jonas has a business selling widgets.

He produces 250 widgets each week and sells all of them at a price of $25 per widget.

His variable cost is $8 per widget and his fixed expenses total $400 per week.

Find Jonas' weekly Profit (or loss)

• gain of $6250

• loss of $2400

• gain of $3850

• gain of $8450

Jonas has a business selling widgets.

He produces 250 widgets each week and sells all of them at a price of $25 per widget.

His variable cost is $8 per widget and his fixed expenses total $400 per week.

All other things being equal, which of the following would make Jonas' Profit increase?

• Jonas' variable cost increases to $9 per widget

• Jonas' quantity sold decreases to 200 widgets

• Jonas' fixed cost increases to $450

• Jonas' variable cost decreases to $7 per widget

Lakayla has a business selling t-shirts.

She produced 500 t-shirts last month and sold 350 at a price of $15 each.

Her variable cost is $5 per t-shirt and her fixed expenses totaled $300 for the month.

Find Lakayla's total Expenses for last month

• $2450

• $2800

• $7500

• $5250

Lakayla has a business selling t-shirts.

She produced 500 t-shirts last month and sold 350 at a price of $15 each.

Her variable cost is $5 per t-shirt and her fixed expenses totaled $300 for the month.

Find Lakayla's Revenue for last month

• $2450

• $2800

• $7500

• $5250