3.2 Costs and Revenue Resources

Assessment Objective
The following types of cost, using examples: Fixed Variable Semi-variable Direct Indirect/overheads	AO2

Fixed & Variable Costs

• The Fixed and Variable Costs of a Small Business – a concise explanation of fixed costs, variable costs, and semi-variable costs.

Direct & Indirect Costs

• Direct Costs and Indirect Costs – a concise explanation of direct and indirect costs and many examples are provided.

• Direct and Indirect Costs in Product Pricing – a concise explanation of direct and indirect costs.

Fixed Vs. Variable Costs

Fixed	Variable
Preset payments such as: rent taxes machinery	Things that can change based on profit such as: workers salary based on commission amount sold

Assessment Objectives
Total revenue and revenue streams, using examples	AO2

• Revenue Accounts – a concise explanation of the different types of revenue.

• What Is a Revenue Stream? – a very understandable explanation of revenue streams.

• Examples of Fixed costs and Variable costs – explanations and definitions of fixed and variable costs.

• Economics - fixed cost etc. – explanations and definitions of fixed and variable costs.