CAIE IGCSE Business Studies 7.2.4 Total cost
Practise defining total cost and linking fixed and variable costs to the full cost of producing a given output.
- Syllabus
- 2027–2029
- Course
- Business 0264
Exam points
- define total cost as fixed costs plus variable costs for the total output
- distinguish total cost from one cost category when explaining production costs
7.2.4—Total cost question 1
Nancy wants to be an entrepreneur. She has analysed market research data and decided to start up a book shop. Nancy has identified a suitable location and prepared a business plan. Nancy is calculating her total costs. She will use this information to help her complete a break-even chart as shown in Figure 2.1. Nancy is also considering using e-commerce.
Break-even chart for Nancy's new business
Define 'total cost'.
All question bank results loaded