Fixed costs, variable costs and making a profit

Dear Year 10

Welcome to BTEC Business.  Over the two years we will cover the following units:

• Unit 2 Finance For Business
• Unit 1 The Business Environment
• Unit 4 Principles of Customer Service
• Unit 8 Recruitment & Selection

What you need to remember is that you can either get a:

• PASS at Level 1 (D) worth 6 points
• PASS at Level 2 (C) worth 12 points
• MERIT (B) worth 18 points or a 
• DISTINCTION (A) worth 24 points from each unit and overall.

Remember "if the numbers don't add up in theory they wont add up in real life"

What costs do you have to deal with in your day to day life as an individual or as a family?

Powerpoint from today's lesson is here


Homework - Learn these key terms for a test next Tuesday

1. Running or operating costs or overheads
2. Start up costs
3. Fixed costs - also known as indirect costs
4. Variable costs - also known as direct costs
5. Total costs

Enjoy

Mr T