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Class notes Businesses Business Studies- (Poonam Gandhi)-2021-22 Class 11 CBSE, ISBN: 9789389975208
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These notes of revenue for class 11 and 12
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REVENUE, Meaning of revenue
The amount of money that a producer receives in exchange for the sale proceeds is known as
revenue.
Revenue refers to the amount received by a firm from the sale of a given quantity of a
commodity in the market.
Profit = Revenue - Cost
Concept of revenue
The concept of revenue consists of 3 important terms: Total revenue, Average revenue and
Marginal revenue.
Total revenue (tr)
Total Revenue refers to total receipts from the sale of a given quantity of a commodity. It is the
total income of a firm.
Total Revenue = Quantity x Price
Average revenue (AR)
Average revenue refers to revenue per unit of output sold.
Average Revenue = Total Revenue
Quantity
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