Understanding Revenue and Its Impact on Business

The video tutorial explains the concept of revenue, also known as turnover or sales, and how it is calculated using the formula: sales revenue equals the volume of goods sold multiplied by the average selling price. Through examples, it demonstrates how to calculate revenue for a business, such as PC World, and explores scenarios with variable pricing. The tutorial also discusses strategies to increase revenue by adjusting the volume of goods sold or the selling price, while highlighting the trade-offs involved in these decisions.

What are the two methods mentioned for increasing sales revenue?

Discuss the trade-off between volume of goods sold and average selling price.