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Define
100

2 example of fixed costs 

Rent

What is…

Salaries 

Lease

Bills

Insurance 

Etc

100

The formula of revenue 

What is Price per unit * quantity of goods 

100
The total value of all final goods and services produced in a given year
What is GDP?
100

Total costs

What is fixed costs + variable costs 

200
A positive difference between total revenue and total costs
What is profit?
200

The formula of total variable cost

What is variable cost per unit * total output 

200

The synonym for overhead

What is fixed costs 

200

Economies of scale

What is the factors that lead to a decrease of average unit cost as more is produced (output)

300
A cost that rises or falls depending on the quantity produced.
What is variable cost?
300

The formula of average cost per unit 

What is Total cost/ Total output 

300

GDP stands for

What is gross domestic product

300

Diseconomies of scale

What is the factors that lead to an increase of average unit cost as more as being produced (output)

400

Diseconomies of scale happen due to…

What is…

Coordination 

Motivation 

Communication 

400

Break even point

What is total fixed costs divided by (price per unit - variable cost per unit)
400

The effect of output to fixed costs

What is Nothing 

400

Fixed costs 

What is payments needed to run a business

Costs that do not change as output changes

500
On a Total Costs/Total Revenue graph it is here where economic profit exists.
What is where total cost are less than total revenue?
500

Profit (or loss) per unit

What is selling price per unit - average cost per unit

500
The price paid for use of borrowed money
What are interest rates?
500

Variable costs 

What is payments for producing goods