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2.6.4 Explain cost, revenue, profit and loss
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Fixed and Variable Costs

Fixed and Variable Costs

A fixed cost does not change when output changes in the short run. Examples include rent, insurance and a manager's salary. A variable cost changes with output, such as raw materials, packaging and hourly wages.

2.6.4 Explain cost, revenue, profit and loss Lesson

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

Step-by-step lessons on OCR GCSE Economics 2.6.4 Explain cost, revenue, profit and loss. 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.

Lessons