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Transcript of Business Studies
Costs that you need to start up a business. Example: Tills
Costs that have to be paid throughout
the year. Example: Replenishment of stock.
Costs that have to be paid no matter
how many products you sell or make
Costs that you have to pay depending
on the number of products.
Formula for total costs:
Total costs=fixed costs*variable costs
The amount of money a business
brings in. Formula; No. of sales*cost per unit
Money you make from something.
Formula: Profit = Revenue - Expenditure