https://padlet.com/fernandeslynda/Year10Eco1 en-us 2017-01-18 04:14:23 UTC 2017-01-18 04:32:31 UTC hello@padlet.com https://padlet.com/fernandeslynda/Year10Eco1/wish/147723827 Fixed cost= is a business cost that remains the same no matter how much is produced 
Variable cost= it change depending on the output]]> 2017-01-18 04:15:32 UTC https://padlet.com/fernandeslynda/Year10Eco1/wish/147723827 rahulnambiarr3 https://padlet.com/fernandeslynda/Year10Eco1/wish/147723832 Fixed Cost- A cost ]]> 2017-01-18 04:15:38 UTC https://padlet.com/fernandeslynda/Year10Eco1/wish/147723832 https://padlet.com/fernandeslynda/Year10Eco1/wish/147723840 Fixed costs: Costs which are unaffected by the amount of output and usually do not change in the short run.

Variable Costs: These costs change according to the output value. Formula= Output * Cost for one

Profits: it's the amount of revenue that is left over or excess, once you deduct the production cost. It is the main driving factor for a business. Formula= total revenue - total production cost.]]> 2017-01-18 04:15:43 UTC https://padlet.com/fernandeslynda/Year10Eco1/wish/147723840 eashaadutt https://padlet.com/fernandeslynda/Year10Eco1/wish/147723841 Variable costs are costs that changes depending on the output of products produced 

Fixed costs are costs that remain the same no matter how much output is produced in the short term But in the long term the fixed cost may also become variable costs

Profit is earned when a firm's total revenue is higher than the total costs, profits are earned after the break even point.
The formula for profit is :
Sales revenue - total costs = profits or TR-TC= profits]]> 2017-01-18 04:15:43 UTC https://padlet.com/fernandeslynda/Year10Eco1/wish/147723841 rahulnambiarr3 https://padlet.com/fernandeslynda/Year10Eco1/wish/147723876 Fixed Cost- a cost which is the same regardless the output produced, e.g. Rent or Salary. 
Variable Cost- A Cost that changes depending on the output produced. 

Profit- The ]]> 2017-01-18 04:16:26 UTC https://padlet.com/fernandeslynda/Year10Eco1/wish/147723876 https://padlet.com/fernandeslynda/Year10Eco1/wish/147723892 2017-01-18 04:16:46 UTC https://padlet.com/fernandeslynda/Year10Eco1/wish/147723892 ayesha_kishor https://padlet.com/fernandeslynda/Year10Eco1/wish/147723909 Fixed cost remains the same regardless of the output in the short run and example of fixed cost would be a rent of a place whereas variable cost is the costs that change depending on the output. 
Profit is the amount your firm gains excluding all the expenses paid for producing the product]]> 2017-01-18 04:17:08 UTC https://padlet.com/fernandeslynda/Year10Eco1/wish/147723909 yabtila1 https://padlet.com/fernandeslynda/Year10Eco1/wish/147723929 • A fixed cost is a cost that does not change no matter the amount of goods or services produced or sold.
• A variable cost is one of the other components of the total cost of running a business. It changes depending on the output.]]> 2017-01-18 04:17:30 UTC https://padlet.com/fernandeslynda/Year10Eco1/wish/147723929 https://padlet.com/fernandeslynda/Year10Eco1/wish/147723930 Fixed cost: costs that remain the same no matter how much is produced or what is the output. For example: rent, salary, interest 
Variable Cost: costs that change depending on the output. For example: electricity; so the more you use the electricity the higher the bill.
Profit: the gain a company gets on the product sold]]> 2017-01-18 04:17:31 UTC https://padlet.com/fernandeslynda/Year10Eco1/wish/147723930 https://padlet.com/fernandeslynda/Year10Eco1/wish/147723934 Fixed cost]]> 2017-01-18 04:17:35 UTC https://padlet.com/fernandeslynda/Year10Eco1/wish/147723934 https://padlet.com/fernandeslynda/Year10Eco1/wish/147723965 Fixed costs are costs that are not changed or affected by the amount of output 


Variable costs are costs that are changed or affected by the output 

Profit- profit is the amount of money your firm or business gains ]]> 2017-01-18 04:18:03 UTC https://padlet.com/fernandeslynda/Year10Eco1/wish/147723965 rahulnambiarr3 https://padlet.com/fernandeslynda/Year10Eco1/wish/147724013 Fixed costs - a cost that doesn't change regardless of the output 

Variable cost- a cost that changes depending on the output 

Profit- the financial gain a firm gets after all the expenses are paid

]]> 2017-01-18 04:19:07 UTC https://padlet.com/fernandeslynda/Year10Eco1/wish/147724013 viditajit https://padlet.com/fernandeslynda/Year10Eco1/wish/147724035 EXVIF]]> 2017-01-18 04:19:36 UTC https://padlet.com/fernandeslynda/Year10Eco1/wish/147724035 https://padlet.com/fernandeslynda/Year10Eco1/wish/147724041 Fixed cost]]> 2017-01-18 04:19:49 UTC https://padlet.com/fernandeslynda/Year10Eco1/wish/147724041 viditajit https://padlet.com/fernandeslynda/Year10Eco1/wish/147724057 Fixed Cost: a cost that doesn't change and remains constant for example rent

Variable Cost: Cost changes depending on the]]> 2017-01-18 04:20:15 UTC https://padlet.com/fernandeslynda/Year10Eco1/wish/147724057 tahacool786 https://padlet.com/fernandeslynda/Year10Eco1/wish/147724137 Fixed costs: a cost that is not effected by the output and will always remain the same (may change with time). Example: rent.

Variable costs:


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