revenue and reducing costs helps to increase profit
To understand the impact of
both changing prices and costs influences on profit
Appreciate how increasing revenues and
reducing costs improves proift Calculating profit & loss
Appreciate how increasing revenues and
reducing costs improves proift Defining profit & loss
Appreciate how increasing revenues and
reducing costs improves proift How can profit be improved?
Appreciate how increasing revenues and
reducing costs improves proift Task 1: How can costs be lowered? Make a mind map showing all the ways in which a business can lower its costs.
Lowering costs
5 minutes
Appreciate how increasing revenues and
reducing costs improves proift TASK 2: Sort out the information to show all the ways in which costs can be lowered.
Appreciate how increasing revenues and
reducing costs improves proift How costs can be lowered.
Appreciate how increasing revenues and
reducing costs improves proift How can revenues be increased
Appreciate how increasing revenues and
reducing costs improves proift Appreciate how increasing revenues and reducing costs improves proift Appreciate how increasing revenues and reducing costs improves proift Task 3: How can revenues be increased?
You have just opened a gaming store in Tunbridge
Wells. Business has not been great in your first few weeks of trading.
What could you do to increase your revenue?
5 minutes (money coming into the business)
Appreciate how increasing revenues and
reducing costs improves proift How can revenues be increased
Appreciate how increasing revenues and
reducing costs improves proift Can reducing prices increase profits?
Appreciate how increasing revenues and
reducing costs improves proift Task 4: Revision Questions Page 73 Test Yourself & Over to You