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business revision :pencil2: :question: - Coggle Diagram
business revision :pencil2: :question:
name for total revenue is equal to total costs
break even point
fixed cost
a fixed cost is a cost that doesn't change with the output of the business
e.g. rent, loan repayments
break even = fixed costs / selling price-variable cost per unit
Break even definition
break even is when a businesses profits are equal to its costs so it earns back all the money that it spends
variable cost
a cost that changes with the output of the business
e.g. packaging, wages
total fixed costs= add up all the fixed costs
total variable costs= add up all the variable costs and times them by how many sales made
total revenue = selling price x number of sales
market segmentation
age, gender, occupation, location, income, lifestyle
positives of market segmentation
you can fully narrow down your audience making advertising and marketing easier
lol
calculations
break even