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9336784
Revenue and costs
Description
Mind Map on Revenue and costs, created by Daniel Hickman on 16/06/2017.
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Mind Map by
Daniel Hickman
, updated more than 1 year ago
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Created by
Daniel Hickman
over 7 years ago
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Resource summary
Revenue and costs
Fixed costs
Costs that must be paid even if nothing is produced like utility bills
Variable Costs
Costs that are directly related to number of products made
Semi-Fixed costs
Costs that change when more is produced but aren't directly linked like buying in mass
Revenue
Income coming into the business from sales, through a grant, the leasing of premises or interest of money in the bank
Costs
Any payments that are made from a business like phone bills or the manufacture of products to sell
Sectors
Primary Sector
Raw materials like a miner
Secondary Sector
Turning materials to goods like a builder
Tertiary Sector
Services to consumers like teacher
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