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Qualifications Cambridge National Enterprise & Marketing Topic Area 3: What makes a product financially viable

3.3 Profit/loss - Quiz

1. Which term describes the income a business receives from selling its goods or services before any costs are taken away?

Profit
Revenue
Total costs
Loss

2. Which term describes the sum of fixed costs and variable costs for a given level of output?

Total costs per unit
Total costs
Revenue
Profit

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Flashcards: 3.3 Profit/loss