Business Costs, Revenues And Profit
Akopọ
Behind every price tag sits a calculation: how much did this cost to make, how much money will selling it bring in, and is there anything left over once the bills are paid? Every business, from a market stall to a multinational, answers these same three questions using the same handful of formulae.
In this lesson you will calculate total and average cost, total revenue and profit, and see why these figures behave differently in the short run, when at least one factor of production is fixed, compared with the long run, when a business can change its entire scale of operation. You will then explore economies and diseconomies of scale, and see how the long run average cost curve shows a business exactly where it is most efficient to operate.
Awọn Afojusun
- Definition and use of formulae to calculate total revenue, total costs, total fixed costs, total variable costs, average (total) costs, profit
- Economies of scale: definition, types of internal economies of scale (purchasing, marketing, technical, financial, managerial, risk bearing), definition of external economies of scale, types of external economies of scale (skilled labour, infrastructure, access to suppliers, similar businesses in area)
- Diseconomies of scale: definition, types (bureaucracy, communication problems, lack of control, distance between top management and workers), the use of long run average cost (LRAC) curve diagram annotated to show internal economies of scale and diseconomies of scale and where the business will be most efficient
Akọ̀wé Ẹ̀kọ́
O wa lori ohun elo Green Bridge
Gba ohun elo Green Bridge CBT sori foonu tabi kọmputa rẹ lati ri awọn akọsilẹ ẹkọ ni kikun, awọn ibeere adaṣe, ati diẹ sii.
Ìdánwò Ẹ̀kọ́
Oriire fun ipari ẹkọ lori Business Costs, Revenues And Profit. Ni bayi ti o ti ṣawari naa awọn imọran bọtini ati awọn imọran, o to akoko lati fi imọ rẹ si idanwo. Ẹka yii nfunni ni ọpọlọpọ awọn adaṣe awọn ibeere ti a ṣe lati fun oye rẹ lokun ati ṣe iranlọwọ fun ọ lati ṣe iwọn oye ohun elo naa.
Iwọ yoo pade adalu awọn iru ibeere, pẹlu awọn ibeere olumulo pupọ, awọn ibeere idahun kukuru, ati awọn ibeere iwe kikọ. Gbogbo ibeere kọọkan ni a ṣe pẹlu iṣaro lati ṣe ayẹwo awọn ẹya oriṣiriṣi ti imọ rẹ ati awọn ogbon ironu pataki.
Lo ise abala yii gege bi anfaani lati mu oye re lori koko-ọrọ naa lagbara ati lati ṣe idanimọ eyikeyi agbegbe ti o le nilo afikun ikẹkọ. Maṣe jẹ ki awọn italaya eyikeyi ti o ba pade da ọ lójú; dipo, wo wọn gẹgẹ bi awọn anfaani fun idagbasoke ati ilọsiwaju.
- Total cost is calculated as: A) Total fixed costs minus total variable costs B) Total fixed costs plus total variable costs C) Total revenue minus profit D) Average cost multiplied by price Answer: B
- A firm's total cost of producing 400 units is GBP 8,000. What is its average cost? A) GBP 8 B) GBP 20 C) GBP 32 D) GBP 3,200,000 Answer: B
- A firm sells 150 units at GBP 30 each and has total costs of GBP 3,800. What is its profit? A) GBP 500 B) GBP 700 C) GBP 4,500 D) GBP 8,300 Answer: B
- Which of the following is an example of an internal economy of scale? A) A shared pool of skilled local workers B) A large firm negotiating a bulk-buying discount from suppliers C) New roads built to serve a growing industrial area D) Specialist suppliers setting up nearby to serve an industry cluster Answer: B
- On a long run average cost (LRAC) curve, the minimum efficient scale is: A) The output level where fixed costs are highest B) The smallest output at which long run average cost reaches its lowest point C) The output level where profit is zero D) The largest possible output a firm could ever produce Answer: B
O wa lori ohun elo Green Bridge
Gba ohun elo Green Bridge CBT sori foonu tabi kọmputa rẹ lati ri awọn akọsilẹ ẹkọ ni kikun, awọn ibeere adaṣe, ati diẹ sii.
O wa lori ohun elo Green Bridge
Gba ohun elo Green Bridge CBT sori foonu tabi kọmputa rẹ lati ri awọn akọsilẹ ẹkọ ni kikun, awọn ibeere adaṣe, ati diẹ sii.
Awọn Iwe Itọsọna Ti a Gba Nimọran
Ṣe Adaṣe Awọn Ibeere Idanwo Adaṣe
Ṣe o fẹ ṣe adaṣe awọn ibeere idanwo adaṣe nipa Business Costs, Revenues And Profit? Ṣe igbasilẹ ohun elo Green Bridge CBT lati wọle si awọn ibeere idanwo adaṣe ati awọn ayẹwo adaṣe kikun fun koko-ọrọ yii.
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