Learning objective

Know the definitions of revenue types, specifically total revenue (TR) and average revenue (AR). Note that marginal revenue is not included.

Read the explanation, check the common trap, then practise with flashcards and questions.

Practise this topic Read the exam answer Topic hub

Exam focus

Read the explanation.
Check key terms.
Practise with linked questions.

Cambridge IGCSE EconomicsSubject content

Study support

Understand this objective

Quick explanation

Know the definitions of revenue types, specifically total revenue (TR) and average revenue (AR). Note that marginal revenue is not included

This point belongs to Firms’ costs, revenue and objectives, especially Firms’ costs, revenue and objectives outcomes.
You need to be able to know the definitions of revenue types, specifically total revenue (TR) and average revenue (AR). Note that marginal revenue is not included.
The key ideas to know are Define and State.
Use the linked flashcards and practice questions to check recall, then practise applying the idea in an exam-style answer.

Key concepts

DefineState

Why it matters

This objective helps connect Firms’ costs, revenue and objectives outcomes to exam-style questions, flashcards, and revision notes for Firms’ costs, revenue and objectives.

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