Introduction to Business Costs and Expenses

The video tutorial covers the calculation of sales revenue and the costs incurred by businesses. It distinguishes between costs and prices, explaining fixed, variable, and total costs with examples. The tutorial concludes with a practical calculation of total costs using a real-world example.

How do you calculate total cost in a business?

Explain variable costs and how they differ from fixed costs.

Using Jacob's ice cream shop as an example, calculate the total cost if he makes 4000 ice creams.