Over one year, a self-employed landscape gardener is paid £61,300 by customers. The gardener's costs for the year, including plants, paving materials, fuel and insurance, add up to £36,800.
Which option shows the gardener's profit or loss for the year?
A profit of £24,500
A loss of £36,800
A profit of £25,500
A profit of £61,300
83 exam-style questions on OCR GCSE Economics 2.6 Production, covering 2.6.1 Role of producers, 2.6.2 Importance of production and productivity, 2.6.3 Calculate cost, revenue, profit and loss, 2.6.4 Explain cost, revenue, profit and loss, 2.6.5 Cost, revenue and profit for producers, and 2.6.6 Economies of scale. Each one has a worked solution and a mark scheme showing where the marks go.