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Unformatted text preview: Name: Date Taken: Class: Total Possible Marks: 29 Business Costs
Complete the following questions in the time allowed by your teacher QUICK DEFINITIONS
Write a short, accurate definition for each of the following key terms. (2 marks for each good quality definition)
2 1. Define: fixed costs 2 2. Define: variable costs 2 3. Define: output 2 4. Define: set-up costs 2 5. Define: indirect costs www.tutor2u.net -1- -2- QUICK LISTS
In this section, provide an outline or list points which answer the question
4 6. List four examples of the kind of fixed costs that would be incurred by an advertising agency
A. B. C. D. E. 7. List four examples of variable costs which are likely to be incurred by a 4 manufacturer of supermarket ready meals
A. B. C. D. E. 8. List three examples of costs which are typically incurred by a new business or for a 3 new product which doesn't continue post launch
A. B. C. D. E. www.tutor2u.net -2- -3- Short Answers
In this section, write a short answer (one or two sentences) for each question.
4 9. Explain the concept of average or unit cost: 4 10. Describe, using examples, what are meant by "overheads" www.tutor2u.net -3- ...
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- Spring '10
- Advertising agency, b. c. d., A. B. C. D.