Cost, Revenue and Profit

Curriculum support20 mins£2

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Key takeaways
An understanding of the definitions of costs, revenue and profit.
An ability to differentiate between different types of costs.
How to apply formulae associated with this topic.
Jamie VersaciHost: Jamie received his degree in Business and Marketing from UWE Bristol. Since then he has taught economics and business for 15 years in addition to running a part-time tutoring business with a colleague.

Did you know that the output of a business is the number of goods and services produced by a business? If you want to learn more like this, then this is the class for you! In this class, students will learn how to define cost, revenue, and profit as well as the difference between types of cost. Students will also get the opportunity to apply the formulas learned to different scenarios to support their learning. 

Costs, revenue, and profit underpin all of the business maths elements you will need on any business GCSE or A Level course. Mastering the basics will enable you to move on to more advanced topics as your course progresses.

Related Classes: AS Economics: The Supply CurveAS Economics: The Demand CurveAS Economics: Bringing the Demand and Supply Curve Together

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Safeguarding reminder:The safety of your child is of the utmost importance. All of our classes are pre-recorded to remove any concerns around live participation. For reruns of our past live classes, students' webcams and microphones were disabled and only the chat history, if participation was requested, is visible.

Suitable for:

This class is suitable for students in Years 10 - 13 or students who are interested in business.

Class requirements:

You will need a laptop or device with internet connection to watch the class, as well as a pen and notepad for taking notes. Students will also need a calculator.


What to expect:

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