Revenue, costs, and break-even
7 important questions on Revenue, costs, and break-even
Factors affecting sales
- number of competitors - raising price may not reduce amount sold by very much, esp. if not many competitors
- what competitors do - if they raise prices, amount sold unlikely to fall very much
- necessity - if product is necessity, people have to buy it even if expensive
- how much people spend on product - if product already very cheap, people may not be put off by higher price of product
To reduce average costs
- spreading fixed costs - increase production=average unit cost falls, using fixed assets more fully
- reduce stock prices - either reduce wage costs, or find cheaper supplier
- increase labour efficiency - improve motivation, or change routine(job to flow production)
- achieve economies of large-scale production -costs savings achieved in long run e.g. move to larger factory (grow)
Economies of large-scale production
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
For my 1st exam I got a C. Then, I started looking for ways to learn better and I came across Study Smart. Since then I have scored a A+, A, A- and another A. I highly recommend it to everyone who wants to hear it. I am so happy with it!!
I was struggling to finish all my first-year subjects for 3 years. Then I discovered Study Smart, which helped me to finish all of them within 3 months.
Because of StudySmart, things are going well in many ways. Before, I always had study stress and no time for anything. Now I feel calm and confident (because of the program). I used to score a B, now I usually score an A or A+.
Hey Chris, I really want to thank you very much for developing the platform, I usually got around C for my exams, now I scored an A+, an A and a A- !!
Since using Study Smart, my average has increased significantly. I even completed a statistics course with a A+ while I'm bad at statistics. I took on extra courses this year, because of Study Smart. Thanks so much!
Ever since I started studying with StudySmart I passed all my exams !!! No more re-sits!! At first, I was happy with a pass and now I only get good grades. Many thanks!
I aced all the courses I studied with Study Smart. For law, I first scored a D, and now an A! I’m 100% sure that I’ll pass all the courses I study with Study Smart.
I always thought I studied well. My grades were fine. I could never have imagined that applying these study skills would have such a huge and direct impact on my grades, my speed and the pleasure I have in learning.
For the first time, I finally feel totally confident about the way I learn. I have the perfect overview and make great progress in terms of speed and the grades I get. Thanks, Chris!
I immediately started to enjoy learning again, and my grades soared. All of a sudden, everything went better. I highly recommend Study Smart to all students..
Being able to create my materials online made the process of studying so much smoother and quicker. I no longer have to spend a huge amount of my time on creating my summaries.
At first, my notes were a mess. Now I use Study Smart to take my notes in a perfectly structured way. It helps me to save a lot of time and do other things I enjoy.
Students that study with Study Smart get better grades. The system applies all the learning methods in such a way that both well-performing students and students who struggle perform much better.
Hi Chris, I would like to thank you very much. Last year I scored C on a course, and this year I got an A+ thanks to your method! Thank you very much!
The largest effect is that my child is more enthusiastic about school! Every parent wants their children to be happy at school, Study Smart made it happen.
In high school, I failed several exams, and that has really changed now. I actually needed this tool very much back then. Since I started studying with StudySmart, I haven't had any D's. My average score is now an A and those are results I would have never had in the past
With my old method, I passed only 3 out of 8 courses. Since I started taking my notes digitally in Study Smart, I have passed all my courses on the first try. For me, StudySmart takes away the stress of wondering if I will pass or not.
Thanks to StudySmart, I passed all my exams, and with better grades than before! On top of that, I have mastered a very good study method now, which I am confident will help me earn my degree.
Break-even level of output
Why businesses need finance
- starting up a new business - raw materials, stock
- internal growth - grow in size, to meet increased demand for products
- takeover/acquisition of another company
- replacing old machinery/equipment
- moving to new premises - may increase possible consumers
- cash-flow problems - some shops not open for the whole year
- research and development - new products, improve old products
Sources of internal finance
- short term (>12 months) - cash in bank
- medium term (1-3 years) - retained profit, sale of assets
- long term (3+ years) - retained profit, owner's investment
Sources of external finance
- short term(>12 months) - overdraft, trade credit
- medium term(1-3 years) - bank loan, lease, hire purchase, grants
- long term (3+ years) - bank loan, mortgage, taking a new partner, share issue, lease, hire purchase
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
