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2.6.4 Explain cost, revenue, profit and loss

Card 1 of 20

What test determines whether a cost is fixed or variable?

A

Total cost ÷ output.

B

Because rent does not change when output changes.

C

Total revenue and total cost.

D

Whether the cost changes when output changes.

Card 1 of 20

2.6.4 Explain cost, revenue, profit and loss Flashcards

  1. GCSE
  2. /Economics
  3. /2.6.4 Explain cost, revenue, profit and loss

20 flashcards on OCR GCSE Economics 2.6.4 Explain cost, revenue, profit and loss: the key terms, formulae and calculations you need to recall for Component 01 and Component 02.

Flashcards