Costs
Costs in a Nutshell Costs are the total expenses a business incurs to produce and sell its goods or services. They include fixed costs such as rent, variable costs such as raw…
Read the note
9 min
Spec point: GCSE AQA – 3.6.3 Financial Terms and Calculations
Every note that covers this specification point.
Profit
Profit in a Nutshell Profit is the financial surplus remaining after a business deducts all its costs from its total revenue. It is calculated as total revenue minus total costs. Businesses use…
Read the note
9 min
Revenue
Revenue in a Nutshell Revenue is the total income a business receives from selling its goods or services before any costs are deducted. It is calculated by multiplying the selling price by…
Read the note
10 min