Changing the way you learn

Question	Answer
Change in market growth	How much has the value changed? ________________ What was the original value? (x100)
profit	total revenue - total costs
revenue	selling price x number of items sold
total costs	fixed costs + variable costs
contribution	sales revenue - variable costs of production
contribution per unit	selling price of 1 unit - variable costs of producing 1 unit
total contribution	unit contribution x no. of units sold
break even output	fixed costs of the business _________________ contribution per unit
break even	fixed costs _____________ selling price per unit - Variable costs
break even output	fixed costs ______________ contribution per unit
variance	budgeted figure - actual figure achieved
gross profit margin (%)	gross profit ____________ sales revenue x100
net profit margin (%)	net profit _____________ sales revenue x100
return on capital (%)	net profit _____________ capital invested x100
labour productivity	total output in given period ___________________ number of employees
uk productivity	total value of UK output __________________ total numbers of hours worked
labour cost per unit of output	total labour costs ________________ total output in a certain time period
labour turnover	number of leavers per year ____________________ average number of employees per year x100
absenteeism	average number of staff absent on one day __________________ total number of staff x100
capacity utilisation	current output ________________ maximum output x100
unit cost	total costs ____________ output
mass marketing	selling undifferentiated products to the whole market - no. attempt made to identify specific niche sections
price elasticity of demand (%)	% change in demand __________________ % change in price

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	Created by Jessica Anne almost 11 years ago