gcse economics - business finance - revenue and profit
SALES REVENUE
The money received by a business over a period of time
e.g. a shop sells 100 pens at £1 each its sales revenue is £100
COSTS
Money paid out by the business
PROFIT
Profit = Sales revenue minus costs
Year |
Sales Revenue |
Costs |
Profit or Loss |
1 |
400 |
500 |
Minus 100 |
2 |
450 |
500 |
Minus 50 |
3 |
500 |
500 |
0 |
4 |
500 |
450 |
Plus 50 |
5 |
500 |
400 |
Plus 100 |
ACTION
A Which was the best year for the business?
B Which was the worst year for the business?
C Think of 2 ways in which a business can increase its sales revenue?
D Think of 2 ways in which a business can increase its profit?
E What do we
call the situation in year 3?
SMART
THINKING
F Can you think of 10 costs faced by a business?
G What is the difference between sales revenue and profit?
These GCSE Economics revision notes have been kindly provided by Peter Davies of Mill Hill School, Ripley Keep Up-todate with your GCSE Economics - Subscribe Free to Economics in the News by Email
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