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1.4 Production, costs, revenue and profit

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Question 13

A florist makes table arrangements for weddings. Table 1 shows the florist's sales and costs record for one wedding season.

Wedding season recordFigure
Fixed costs for the season£8,500
Cost of flowers and packaging per arrangement£24
Price charged per arrangement£42
Arrangements sold850

Using Table 1, calculate the profit the florist made from table arrangements over the season.

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Markscheme

1.4 Production, costs, revenue and profit Questions

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

138 exam-style questions 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 has a worked solution and a mark scheme showing where the marks go.

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