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Business objectives and the key quantities

Business objectives and the key quantities

A firm may pursue profit maximisation, sales growth, increasing market share or survival. These objectives can conflict: cutting price may increase sales and market share but reduce profit per unit.

1.4 Production, costs, revenue and profit Lesson

  1. GCSE
  2. /Economics
  3. /1.4 Production, costs, revenue and profit

Step-by-step lessons on AQA GCSE Economics 1.4 Production, costs, revenue and profit, covering 1.4.1a Business objectives, 1.4.1b Types of costs and revenue, 1.4.1c Calculating profit, 1.4.1d Profit as an incentive to produce, 1.4.1e Moral and ethical considerations, 1.4.2a Production versus productivity, 1.4.2b Factors and benefits of productivity, 1.4.3a Economies of scale and business behaviour, 1.4.3b Types of economy of scale, and 1.4.3c Diseconomies of scale. Each one builds up to exam-style questions. Build a solid grasp of supply and demand and cost/revenue calculations before tackling the evaluation-heavy policy topics.

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