BTEC Business Studies Formulas and
Keywords Unit 2 UPDATED ACTUAL
Exam Questions and CORRECT Answers
Revenue - CORRECT ANSWER✔✔- The money coming into the business
Fixed Costs - CORRECT ANSWER✔✔- Costs that stay the same
Variable Costs - CORRECT ANSWER✔✔- Costs that change with output
Total Costs - CORRECT ANSWER✔✔- = Fixed Costs + Variable Costs
Total Variable Costs - CORRECT ANSWER✔✔- = Variable Cost * Quantity
Profit formula - CORRECT ANSWER✔✔- =Revenue - Total Costs
Profit - CORRECT ANSWER✔✔- Money made by the business
Budget - CORRECT ANSWER✔✔- A financial plan for the future
Revenue formula - CORRECT ANSWER✔✔- = Selling price * quantity sold
Break Even - CORRECT ANSWER✔✔- When a business makes neither a loss nor a profit
Break Even formula - CORRECT ANSWER✔✔- =Fixed costs / Contribution
Contribution - CORRECT ANSWER✔✔- Selling Price - Variable Costs
Keywords Unit 2 UPDATED ACTUAL
Exam Questions and CORRECT Answers
Revenue - CORRECT ANSWER✔✔- The money coming into the business
Fixed Costs - CORRECT ANSWER✔✔- Costs that stay the same
Variable Costs - CORRECT ANSWER✔✔- Costs that change with output
Total Costs - CORRECT ANSWER✔✔- = Fixed Costs + Variable Costs
Total Variable Costs - CORRECT ANSWER✔✔- = Variable Cost * Quantity
Profit formula - CORRECT ANSWER✔✔- =Revenue - Total Costs
Profit - CORRECT ANSWER✔✔- Money made by the business
Budget - CORRECT ANSWER✔✔- A financial plan for the future
Revenue formula - CORRECT ANSWER✔✔- = Selling price * quantity sold
Break Even - CORRECT ANSWER✔✔- When a business makes neither a loss nor a profit
Break Even formula - CORRECT ANSWER✔✔- =Fixed costs / Contribution
Contribution - CORRECT ANSWER✔✔- Selling Price - Variable Costs
