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Cambridge IGCSE Economics practice

Paper 2 structured question: Firms’ costs, revenue and objectives

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Firms’ costs, revenue and objectives

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Paper 2Structured Questions3 marks

Revenue analysis is essential for pricing strategies.

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Revenue Analysis

Average Revenue (AR) is calculated by dividing Total Revenue by the quantity sold.

  1. a

    Explain how Average Revenue is calculated and its significance.

    Aim for approximately 3 distinct marking points.

    [3]

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Paper 2 structured question: Firms’ costs, revenue and objectives

Paper 2Structured Questions1 marks

Description

Revenue Types

Total Revenue (TR) is the total income from sales, while Average Revenue (AR) is the income per unit sold.

  1. a

    State the definition of Total Revenue.

    Aim for approximately 1 distinct marking point.

    [1]